Saudi Arabian Monetary Authority (SAMA) has licensed Nayla Finance to engage in microfinance activity in Saudi Arabia, bringing the total number of finance companies licensed by SAMA to 66. SAMA linked the licensing to its efforts to support the finance sector, improve the efficiency of financial transactions and promote innovative financial solutions for financial inclusion. It also reiterated the importance of dealing exclusively with authorized financial institutions, noting that the list of licensed and permitted entities is available on its official website.
Saudi Arabian Monetary Authority 2025-04-30
Saudi Arabian Monetary Authority licenses Nayla Finance to undertake microfinance activity
The Saudi Arabian Monetary Authority (SAMA) has licensed Nayla Finance for microfinance activities, increasing the total number of licensed finance companies to 66. This move aligns with SAMA's efforts to enhance the finance sector's efficiency and promote innovative financial solutions for inclusion. SAMA emphasized the importance of engaging only with authorized financial institutions.