The Saudi Central Bank (SAMA) licensed SEULAH ALAWLA Company to provide consumer microfinance solutions in Saudi Arabia. The licence brings the number of SAMA-licensed companies offering consumer microfinance solutions to seven and increases the total number of finance companies licensed by SAMA to 63. SAMA reiterated that customers should deal exclusively with authorised financial institutions and pointed to its website for the list of licensed and permitted entities.
Saudi Arabian Monetary Authority 2025-01-08
Saudi Central Bank licenses SEULAH ALAWLA to provide consumer microfinance solutions, taking total licensed finance companies to 63
The Saudi Central Bank (SAMA) has licensed SEULAH ALAWLA Company to offer consumer microfinance solutions in Saudi Arabia, bringing the total number of SAMA-licensed consumer microfinance providers to seven and the overall number of licensed finance companies to 63. SAMA emphasized the importance of engaging only with authorized financial institutions.