Qatar’s QNB Gets Approval to Launch New Saudi Digital Bank
Qatar National Bank (QNB) has received approval from the Saudi Central Bank (SAMA) to set up a new fully digital bank in Saudi Arabia. The bank, called Ezbank, will be launched with a starting capital of $667 million (SAR 2.5 billion) in partnership with Ajlan & Bros. Holding.
QNB Expands in Saudi Arabia
Ezbank will operate mainly through mobile phones, focusing on young people, entrepreneurs, and communities that are underserved by traditional banks. The bank plans to use artificial intelligence tools, smart risk management, and smooth cross-border services to make banking faster and easier.
According to QNB, this step shows its commitment to financial inclusion, making banking more efficient and accessible in the 28 countries where it already operates.
The bank added that this license is a major milestone in its digital growth strategy and supports Saudi Arabia’s Vision 2030, which aims to modernize and diversify the kingdom’s economy, including the financial sector.
Recognition in Digital Banking
QNB has been receiving global recognition for its work in digital banking. On Thursday, Global Finance magazine awarded QNB two titles in Qatar:
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Best Mobile Banking App
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Best in Social Media Marketing and Services
The judges highlighted QNB’s innovations, such as:
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push-notification approvals for online shopping transactions
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instant money transfers through Visa Direct
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court payment services directly on the app
In addition, QNB recently won awards for “Best Multi-Channel Offering in MENA” and “Excellence in Omni-Channel Customer Experience.” These honors highlight the bank’s ability to connect with customers across multiple platforms.
Green Finance Commitment
QNB is also moving forward in the area of sustainable finance. Last week, the bank issued its first green bond, raising $812 million (€750 million). The five-year bond carried a 3.0% coupon and was more than 2.5 times oversubscribed, showing strong interest from global investors. Notably, 56% of the investment came from funds dedicated to green projects.
The money raised will be used for projects under QNB’s Sustainable Finance and Product Framework. These include renewable energy, energy efficiency, and other initiatives that benefit the environment.
Looking Ahead
With the launch of Ezbank, QNB is positioning itself as a leader in digital banking in Saudi Arabia, one of the fastest-growing markets in the region. At the same time, its international awards and strong green finance efforts show the bank’s ambition to be at the front of innovation, customer service, and sustainability.
For QNB, the approval from SAMA is not just a step into Saudi Arabia—it is a chance to expand its digital footprint, support financial inclusion, and contribute to building a more modern, connected, and sustainable banking sector across the Middle East and beyond.
Published: 3rd October 2025
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