The Saudi Central Bank (SAMA) has licensed Awn Alraidah to engage in consumer microfinance activity through financial technology. The authorisation brings the number of SAMA-licensed companies offering consumer microfinance solutions in Saudi Arabia to nine, and increases the total number of finance companies licensed by SAMA to 68. SAMA reiterated that customers should deal only with authorised financial institutions and noted that licensed and permitted institutions can be checked on its official website.
Saudi Arabian Monetary Authority 2025-07-08
The Saudi Central Bank licenses Awn Alraidah to provide consumer microfinance via financial technology
The Saudi Central Bank (SAMA) has licensed Awn Alraidah to provide consumer microfinance services via financial technology, raising the total number of SAMA-licensed consumer microfinance companies in Saudi Arabia to nine and the overall number of licensed finance companies to 68. SAMA advises customers to engage only with authorised financial institutions, which can be verified on its official website.