The Saudi Central Bank (SAMA) licensed Tamara Finance to provide consumer finance and buy-now-pay-later (BNPL) services. The authorisation brings the number of finance companies licensed and permitted by SAMA to 65. SAMA framed the step as supporting the finance sector, increasing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in Saudi Arabia. It also reiterated that consumers should deal only with authorised financial institutions.
Saudi Arabian Monetary Authority 2025-03-03
Saudi Central Bank licenses Tamara Finance to provide consumer finance and BNPL services
The Saudi Central Bank (SAMA) has licensed Tamara Finance to offer consumer finance and buy-now-pay-later services, increasing the total number of licensed finance companies to 65. SAMA aims to enhance financial transaction efficiency and promote innovative solutions for financial inclusion, while advising consumers to engage only with authorised institutions.