The Saudi Central Bank (SAMA) has granted Tamawal a licence to provide finance aggregation services in Saudi Arabia, increasing the number of authorised providers for this activity to six. SAMA linked the authorisation to its efforts to support the financial sector, improve the efficiency of financial transactions and promote innovative financial solutions aimed at financial inclusion. It also reiterated that customers should deal only with authorised financial institutions and pointed to its register of licensed and permitted entities.
Saudi Arabian Monetary Authority 2025-04-28
Saudi Central Bank licenses Tamawal to provide finance aggregation services, bringing total licensed providers to six
The Saudi Central Bank (SAMA) has licensed Tamawal to offer finance aggregation services, raising the number of authorised providers to six. 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, referencing its register of licensed entities.