The Saudi Central Bank (SAMA) announced today in a press release that it has licensed BOUABA TSHIL to provide consumer microfinance solutions through financial technology. With the addition of BOUABA TSHIL, there are now six licensed companies offering consumer microfinance solutions, and the total number of licensed financing companies in the Kingdom stands at 61.
According to the release, this decision reflects SAMA’s commitment to supporting the financial sector, increasing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in Saudi Arabia.
SAMA also emphasized the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA’s official website.
Source: Saudi Press Agency
