The Saudi Central Bank licensed Tak Mal for Financing to carry out consumer microfinance activity through financial technology in Saudi Arabia. The approval adds a new regulated provider in the segment and expands the domestic market for licensed consumer microfinance offerings. With Tak Mal for Financing, the number of licensed companies offering consumer microfinance solutions in Saudi Arabia rises to 11, while the total number of finance companies licensed by the central bank reaches 72. The central bank also reiterated that customers should deal only with authorized financial institutions and noted that licensed and permitted firms are listed on its official website.
Saudi Arabian Monetary Authority 2026-04-28
Saudi Central Bank licenses Tak Mal for Financing for fintech consumer microfinance bringing licensed providers to 11
The Saudi Central Bank has licensed Tak Mal for Financing to provide consumer microfinance through financial technology, expanding the domestic market for licensed consumer microfinance offerings. This brings the number of licensed consumer microfinance providers to 11 and total finance companies supervised by the central bank to 72, with the authority reiterating that customers should only deal with institutions listed on its official website.