Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed ‘Jil Aldaf Alajil Company’ to provide buy now, pay later (BNPL) activities across the Kingdom.

The license brings the total number of SAMA-licensed finance companies in Saudi Arabia to 78, SAMA revealed in a statement today.

This move aligns with the central bank’s efforts to support the development of the payments ecosystem, enhance the efficiency of financial transactions, and encourage innovation in financial services. It also aligns with efforts to promote financial inclusion and expand access to financial services across different segments of society.