The Saudi Central Bank (SAMA) has licensed Nayla Finance to engage in microfinance activity in Saudi Arabia, lifting the total number of SAMA-licensed finance companies to 66. SAMA linked the licensing to its focus on supporting the finance sector, improving the efficiency of financial transactions, and promoting innovative financial solutions to advance financial inclusion. It also reiterated the importance of dealing only with authorized financial institutions and directed stakeholders to its official website for the list of licensed and permitted entities.
Saudi Arabian Monetary Authority 2025-04-30
Saudi Central Bank licenses Nayla Finance to conduct microfinance activity bringing total licensed finance companies to 66
The Saudi Central Bank (SAMA) has licensed Nayla Finance for microfinance activities, increasing the total number of SAMA-licensed finance companies to 66. This move aligns with SAMA's goals to enhance the finance sector's efficiency and promote innovative financial solutions for greater financial inclusion. SAMA emphasized the importance of engaging with authorized financial institutions.