Tencent Holdings Ltd. is in discussions with the Saudi Central Bank (SAMA) to obtain regulatory approval for its WeChat platform to operate in Saudi Arabia, according to people familiar with the matter. The application is currently under review and has not yet received final clearance.
The move would mark WeChat’s first entry into the Saudi market, bringing its messaging, payments and mini-program services under SAMA’s digital payments framework. The regulator has been assessing international applicants as part of its ongoing expansion of licensed fintech and payment service providers in line with Saudi Vision 2030.
According to sources, Tencent has submitted the necessary documentation and is coordinating with local partners to ensure compliance with Saudi regulations, including data localisation and anti-money-laundering requirements. The company has not announced any launch timeline pending SAMA’s final decision.
The Saudi Central Bank has not issued a public statement regarding the application. In recent months, SAMA has approved several international payment platforms, including Google Pay and Alipay+, as part of efforts to expand cashless transactions across the Kingdom.
Tencent’s regional and global communications teams did not respond to requests for comment.
WeChat’s potential entry into Saudi Arabia comes amid growing cooperation between Chinese technology companies and Gulf regulators. SAMA continues to use its sandbox program to evaluate new payment technologies before issuing full licences.
No official date has been set for the completion of Tencent’s application review.
Tencent applies for SAMA approval to launch WeChat in Saudi Arabia