Riyadh - Sharikat Mubasher: Seulah Alawla, the first Saudi platform for micro consumer finance, obtained a license from the Saudi Central Bank (SAMA) to provide consumer microfinance solutions in Saudi Arabia.

With Seulah, there are now seven licensed companies offering consumer microfinance solutions in the Kingdom, the apex bank announced in a statement today.

This addition brings the total number of finance companies licensed by SAMA to 63 companies.

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.

Seulah provides financial services to individuals, helping them meet their financial needs by offering necessary financing through an easy and flexible platform that adheres to Islamic principles and regulations.