Riyadh - Sharikat Mubasher: The Saudi-based fintech company Sulfah launched its peer-to-peer (P2P) lending service for individuals to help them get finance directly through its application, the company announced in a press release.

This step came after Sulfah obtained permission from the Saudi Central Bank (SAMA) to test its solutions in SAMA’s regulatory sandbox.

The Sulfah application will enable fund seekers to track their finance requests and will include all available lending opportunities.

Yazeed Altaweel, Founder and CEO of Sulfah, stated that the new service is a one-of-its-kind investment tool in the region that offers individuals unique and lucrative investment opportunities.

He affirmed the company's commitment to enhancing the Saudi fintech sector by providing innovative solutions, in alignment with Vision 2030 goal of enhancing the finance sector.

Altaweel further hailed SAMA’s continuous efforts to support new fintech companies and bolster the sector.

Sulfah leverages artificial intelligence (AI) and machine learning (ML) technologies to accelerate the loan deposit and build a better lending experience for customers.