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.
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