Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) granted Jeel Pay the license to offer buy now pay later (BNPL) solutions to become the seventh company providing BNPL solutions in the Kingdom.

In a statement, SAMA noted that there are now 58 licensed finance companies in Saudi Arabia.

This decision mirrors SAMA’s commitment to supporting finance and fintech sectors and promoting financial inclusion in the Kingdom by enhancing operational efficiency and innovative financial solutions.

Jeel Pay is a fintech startup that provides solutions to accelerate payment and collection processes within educational institutions.