In recent years, open banking has redefined the future of the global financial sector, fostering innovation, competition, and customer empowerment. Through a secure Application Programming Interface (API), open banking allows customers to share their financial data with licensed third-party providers (TPPs), enabling tailored services that go beyond traditional banking. Under the umbrella of Saudi Vision 2030, Saudi Arabia has committed to becoming a regional FinTech hub. As part of this transformation, the Saudi Central Bank (SAMA) launched the Open Banking Framework, a pivotal step in modernizing the Kingdom’s financial infrastructure and ensuring that innovation and regulation evolve hand-in-hand. In this article, we explore what open banking means for Saudi Arabia, its regulatory landscape, and the critical legal considerations that financial institutions and third-party providers must address. What Is