SAMA licensed Tamara to provide consumer finance and BNPL services, bringing the total number of licensed finance companies in Kingdom to 65
Riyadh - Sharikat Mubasher: Tamara Finance, a leading fintech company in Saudi Arabia, obtained a license from the Saudi Central Bank (SAMA) to provide consumer finance and buy now, pay later (BNPL) services in the Kingdom.
This addition brought the number of finance companies licensed and permitted by SAMA to 65 companies, the central bank revealed in a recent statement.
This decision reflects SAMA’s commitment to supporting the finance sector, increasing financial transactions' efficiency, and promoting innovative financial solutions for financial inclusion in Saudi Arabia.
It is worth mentioning that Tamara received preliminary approval from SAMA to provide consumer finance and BNPL activities last September.