Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed 'Muhlah Zamaniyah' company to offer consumer microfinance solutions through fintech across the Kingdom.

In a statement released yesterday, SAMA announced that the total number of licensed companies offering consumer financing in the Kingdom reached 11, while the number of finance companies licensed by the apex bank increased to 68.

This decision underscores SAMA’s commitment to supporting the finance sector, increasing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in Saudi Arabia.