The Saudi Central Bank (SAMA) has licensed SEULAH ALAWLA to provide consumer microfinance solutions in Saudi Arabia. The authorisation brings the number of licensed companies offering consumer microfinance solutions to seven and increases the total number of finance companies licensed by SAMA to 63. SAMA linked the decision to its efforts to support the financial sector, improve the efficiency of financial transactions and promote innovative financial solutions for financial inclusion, and reiterated that customers should deal only with authorised financial institutions, which are listed on SAMA’s official website.
Saudi Arabian Monetary Authority 2025-01-08
Saudi Central Bank licenses SEULAH ALAWLA to provide consumer microfinance solutions
The Saudi Central Bank (SAMA) has licensed SEULAH ALAWLA to offer consumer microfinance solutions, raising the total number of licensed finance companies to 63. This move aligns with SAMA's goals to enhance financial sector efficiency and promote innovative solutions for financial inclusion. SAMA advises customers to engage only with authorised institutions listed on its official website.