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.
