The Saudi Central Bank (SAMA) has licensed Madafuou Alarabia Company to engage in buy now pay later (BNPL) activity, increasing the number of finance companies licensed by SAMA to 67. SAMA linked the decision to supporting the finance sector, improving the efficiency of financial transactions, and promoting innovative financial solutions aimed at financial inclusion in Saudi Arabia. It also reiterated the importance of dealing only with authorized financial institutions and directed stakeholders to its website for the list of licensed and permitted firms.
Saudi Arabian Monetary Authority 2025-06-17
Saudi Central Bank licenses Madafuou Alarabia to conduct buy now pay later activity, bringing licensed finance companies to 67
The Saudi Central Bank (SAMA) has licensed Madafuou Alarabia Company to conduct buy now pay later (BNPL) activities, bringing the total number of SAMA-licensed finance companies to 67. This move supports the finance sector's efficiency and innovation, promoting financial inclusion in Saudi Arabia. SAMA emphasized the importance of engaging with authorized financial institutions.