The Saudi Central Bank (SAMA) has issued a licence to “SEULAH ALAWLA”, allowing it to provide consumer microfinance solutions.
With SEULAH ALAWLA, there are now seven licensed companies offering consumer microfinance solutions in KSA, bringing the total number of finance companies licensed by SAMA to 63.
This decision reflects SAMA’s endeavour to support the financial sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in the Kingdom.
Saudi Central Bank licence
SAMA emphasises the importance of dealing exclusively with authorised financial institutions.
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