The Saudi Central Bank (SAMA) granted ATAMAD a licence to provide consumer microfinance solutions in Saudi Arabia. The authorisation brings the number of licensed consumer microfinance providers to eight and increases the total number of finance companies licensed by SAMA to 65. SAMA also reiterated the importance of dealing only with authorised financial institutions.
Saudi Arabian Monetary Authority 2025-02-17
Saudi Central Bank licenses ATAMAD to provide consumer microfinance solutions
The Saudi Central Bank (SAMA) has licensed ATAMAD to offer consumer microfinance solutions in Saudi Arabia, raising the number of licensed consumer microfinance providers to eight and the total licensed finance companies to 65. SAMA emphasized the importance of engaging only with authorized financial institutions.