SAMA Grants Fintech 'Loan' License for Consumer Microfinance in Saudi Arabia
The Saudi Central Bank (SAMA) licensed “Loan” to provide consumer microfinance solutions through financial technology. With Loan, there are now six authorized companies offering consumer microfinance solutions in Saudi Arabia.
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.