Fintech & Payments Accounting & Advisory Saudi Arabia

Fintech & Payments Financial Compliance in Saudi Arabia

Our Fintech & Payments sector clients include payment service providers, digital banks, crypto asset companies, lending fintechs, and SAMA-licensed fintech companies. These businesses require financial advisors who understand not just general accounting standards, but the specific ZATCA treatment, sector regulatory requirements, and Vision 2030 compliance obligations that apply to their industry.

Saudi Arabia's fintech sector has grown from near-zero to one of the most active in the MENA region in under a decade — with SAMA's regulatory sandbox, the Financial Sector Development Programme, and Riyadh's emergence as a regional financial hub creating a vibrant ecosystem. But fintech accounting is genuinely complex:

• SAMA regulatory capital: Payment service providers and e-money issuers licensed by SAMA must maintain minimum regulatory capital, hold client funds in segregated accounts, and report monthly to SAMA on financial position and transaction volumes. The accounting must support these regulatory reports precisely.
• E-money float accounting: Digital wallet balances represent a liability of the fintech company to customers. The float must be segregated, invested only in approved instruments, and reported accurately. Float accounting errors have regulatory capital implications.
• AML obligations: Fintech companies are DNFBPs under Saudi AML law — requiring full AML programmes, customer due diligence, MLRO appointment, and STR filing with SAFIU. SAMA actively enforces AML compliance through licensing conditions.