SAMA Licenses' Madafuou Alarabia' Company to Engage in BNPL Activity

The Saudi Central Bank (SAMA) licensed "Madafuou Alarabia" company to engage in buy-now-pay-later activity. This addition brings the number of finance companies licensed by SAMA to 67 companies.
 According to a press release issued by the SAMA today, this decision reflects the 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.
 The SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.