The Saudi Central Bank (SAMA) has granted a license to Nayla Finance to operate in microfinance activities.

According to a press release issued by SAMA, this brings the total number of finance companies licensed by the central bank in Saudi Arabia to 66.

The statement highlighted SAMA’s commitment to supporting the finance sector, enhancing the efficiency of financial transactions, and encouraging innovative financial solutions that promote financial inclusion across the Kingdom.

Recently, SAME licensed Tamawal company to provide finance aggregation services.

SAMA also underscored the importance of dealing solely with authorised financial institutions and directed individuals to consult its official website for a comprehensive list of licensed and approved entities.

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