The Saudi Central Bank (SAMA) granted “Tamara” a permit to provide Buy Now Pay Later (BNPL) solutions pursuant to Saudi Central Bank Law and Finance Companies Control Law. With Tamara, there are now four authorized companies offering BNPL solutions.
SAMA is committed to supporting and enabling the finance and FinTech sectors within the regulatory and supervisory guidelines. By attracting new investors and companies, SAMA seeks to bring added value to the sector and the economy. SAMA is actively engaged in leveraging technology in financial services to support the broader goals of Vision 2030.
SAMA’s continuous support for finance and FinTech is in the context of increasing efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in the Kingdom.
SAMA emphasizes 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
