The Saudi Central Bank (SAMA) has licensed jak almuqaddimah Company to provide consumer finance in Saudi Arabia. The authorization increases the total number of finance companies licensed by SAMA to 75. The update adds a new authorized provider in the consumer finance market. SAMA also reiterated that customers should deal exclusively with authorized financial institutions.
Saudi Arabian Monetary Authority2026-06-01
Saudi Central Bank licenses jak almuqaddimah Company for consumer finance bringing total licensed finance companies to 75
The Saudi Central Bank has licensed jak almuqaddimah Company to provide consumer finance in Saudi Arabia, bringing the total number of finance companies licensed by the authority to 75. The central bank reiterated that customers should deal only with authorized financial institutions.