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The Saudi Central Bank (SAMA) licensed “alhulul almuntilaqa" company to Provide Consumer Microfinance Solutions. With alhulul almuntilaqa, there are now 12 licensed companies offering Consumer Microfinance solutions in Saudi Arabia. This addition brings the total number of finance companies licensed by SAMA to 70 companies.
This decision reflects SAMA's endeavor to support the finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.
SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.
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