SAMA Licenses “Muhlah Zamaniyah” Company to Engage in Consumer Microfinance Activity
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The Saudi Central Bank (SAMA) licensed “Muhlah Zamaniyah" company to engage in consumer microfinance activity through financial technology. With Muhlah Zamaniyah, there are now (11) licensed companies offering consumer microfinance solutions in Saudi Arabia. This addition brings the total number of finance companies licensed by SAMA to (68) 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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