D360 Bank
Riyadh-based Sharia-compliant digital bank, licensed in 2022 and led by Derayah Financial with the Public Investment Fund among its investors. It began operating after a Saudi Central Bank no-objection in December 2024.
Industry: Digital banking | Location: Riyadh, Saudi Arabia | Founded: 2022 | Total Funding: USD 520M
About D360 Bank
D360 Bank is a Sharia-compliant digital bank headquartered in Riyadh, Saudi Arabia. It is a closed joint stock company supervised by the Saudi Central Bank. Its website lists personal financing, the Sanabil savings accounts, debit and other cards, and international transfers, and presents the bank as focused on cross-border, multi-currency banking. It supports Apple Pay, Samsung Pay and Google Pay.
The Saudi Council of Ministers approved the licensing of D360 Bank on 15 February 2022. Argaam reported at the time that a consortium of individual and corporate investors would establish the bank with SAR 1.65 billion in capital, led by Derayah Financial, with the Public Investment Fund among the key investors. Taha AlKuwaiz, who also chairs Derayah Financial, is chairman, and Eze Szafir is chief executive. Mohammed Ghoneim was quoted as chief executive when the bank opened a customer waitlist in November 2023.
The Saudi Central Bank issued a no-objection for the bank to start operations in December 2024. In May 2025 the bank said it had passed one million customers within four months of its official launch, with more than 51 million transactions across over 100 countries, and that its banking-as-a-service platform was live with three external clients. Enterprise reported a MoneyGram memorandum of understanding for cross-border payments in 2025 and a partnership with TerraPay for real-time transfers.
In June 2025 shareholders approved a SAR 450 million rights issue that raised capital from SAR 1.65 billion to SAR 2.1 billion, according to Argaam. In June 2026 an extraordinary general assembly approved issuing 72.9 million new shares at SAR 20.57, about SAR 1.5 billion, lifting capital to roughly SAR 2.91 billion. Mubasher reported valuations of SAR 4.5 billion before and SAR 6 billion after the increase and described D360 as the largest Saudi digital bank by capital. Derayah Financial planned to invest SAR 100 million, which would reduce its stake from 20.4 percent to 16.35 percent.
Enterprise reported about 3 million customers and SAR 3 billion in deposits as of April 2026, and said the proceeds would support lending, small and medium enterprise finance and its API banking infrastructure.
Leadership
- Taha AlKuwaiz, Chairman of the Board
- Zaki Alshowaier, Vice Chairman of the Board
- Eze Szafir, Chief Executive Officer
- Faisal Al Jadaan, Deputy Chief Executive Officer (Acting)
- Ale de la Viña, Chief Technology Officer
- Ayman Al Habib, Chief Risk Officer
- Mohammed Al Khomashi, Chief Compliance Officer
- Sadeq Al Thawab, Chief Operation Officer