The Saudi Central Bank (SAMA) has officially licensed Madafuou Alarabia to offer Buy Now, Pay Later (BNPL) services. This move raises the total number of finance companies licensed by SAMA to 67.
In a press release issued today, SAMA stated that the decision aligns with its ongoing efforts to enhance the financial sector, improve transaction efficiency, and foster innovative financial solutions that support financial inclusion across the Kingdom.
SAMA also reiterated the importance of dealing only with authorized financial institutions. A full list of licensed and approved entities is available on SAMA’s official website.
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