SAMA Grants License to Awn Alraidah Company for Consumer Microfinance Activities
This move aligns with SAMA's ongoing efforts to strengthen the financial sector, improve transaction efficiency, and encourage innovative financial solutions that support broader financial inclusion across Saudi Arabia.
SAMA emphasizes the importance of dealing only with licensed financial institutions. A complete list of authorized entities is available on the official SAMA website.
Related Topics:
GASTAT: Saudi Arabia's Inflation Holds Steady at 2.2% in May 2025
Saudi Arabia's Inflation Rate Eases to 1.9% in December
Rental Prices Drive Inflation in August 2024: GASTAT
SAMA Officially Launches 'Samsung Pay' in Saudi Arabia
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SAMA Grants License to Awn Alraidah Company for Consumer Microfinance Activities
The Saudi Central Bank (SAMA) has granted a license to Awn Alraidah Company, allowing it to provide consumer microfinance services using financial technology. With this addition, the number of companies authorized to offer consumer microfinance solutions in the Kingdom has increased to nine, bringing the total number of finance companies licensed by SAMA to 68. This move aligns with SAMA's ongoing efforts to strengthen the financial sector, improve transaction efficiency, and encourage innovative financial solutions that support broader financial inclusion across Saudi Arabia. SAMA emphasizes the importance of dealing only with licensed financial institutions. A complete list of authorized entities is available on the official SAMA website. Related Topics: GASTAT: Saudi Arabia's Inflation Holds Steady at 2.2% in May 2025 Saudi Arabia's Inflation Rate Eases to 1.9% in December Rental Prices Drive Inflation in August 2024: GASTAT SAMA Officially Launches 'Samsung Pay' in Saudi Arabia Short link : Post Views: 15 Related Stories
