The Saudi Central Bank (SAMA) licensed Tamawal company to provide finance aggregation services.

With Tamawal, six licensed companies now provide finance aggregation services in Saudi Arabia.

In a press release issued by the SAMA, this decision reflects SAMA’s endeavor to support the financial sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

In March, SAMA granted a license to Tamara Finance, enabling the company to provide consumer finance and BNPL services in Saudi..

SAMA emphasises the importance of dealing exclusively with authorised financial institutions.

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