SAMA Licenses Nayla Finance Company to Engage in Microfinance Activity

The Saudi Central Bank (SAMA) licensed Nayla Finance company to engage in microfinance activity.
 According to a press release issued by SAMA, this addition brings the total number of finance companies licensed by SAMA to 66 companies in Saudi Arabia.
 The release added that SAMA's focus in this respect reflects its keenness to support the finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.
 Emphasizing the importance of dealing exclusively with authorized financial institutions, SAMA directs individuals to its official website for a list of licensed and permitted entities.