Riyadh – Sharikat Mubasher: The Saudi Central Bank (SAMA) announced it has granted a license to Tak Mal for Financing to operate in consumer microfinance through financial technology, further expanding Saudi Arabia’s fintech-driven lending landscape.
With the addition of Tak Mal, the number of licensed companies offering consumer microfinance solutions in the Kingdom has reached 11, while the total number of finance companies approved by SAMA now stands at 72, according to a recent press release.
The move underscores SAMA’s ongoing efforts to strengthen the financial sector, enhance transaction efficiency, and promote innovative financing solutions that support financial inclusion across Saudi Arabia. It also reflects the regulator’s focus on enabling fintech players to play a greater role in widening access to credit, particularly for underserved segments.
SAMA reiterated the importance of dealing only with licensed financial institutions and encouraged the public to refer to its official website for a full list of authorized entities.
