These developments follow the $32m Series A fundraise and partnership with Visa aimed at strengthening its presence in the Saudi market
The central bank said the net foreign assets dropped to SAR1.54tn in April from SAR1.57tn the previous month
The open banking platform plans to use the proceeds of the Series A funding round to accelerate growth in Saudi Arabia
The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate