Tabby has secured consumer and SME finance licenses from the Saudi Central Bank (SAMA).

The regulatory approval allows the financial services app to offer extended payment plans for larger purchases and provide working capital to retailers on its platform.

On the consumer side, the new license enables the company to finance purchases over SAR 2,000, with limits up to SAR 50,000. These extended plans operate on a Shariah-compliant Murabaha structure.

The financing model sets the cost upfront and keeps it fixed throughout the plan, ensuring the amount owed does not increase and no late fees are applied.

The company will continue to offer its standard interest-free split-payment options alongside the new product.

These longer payment terms open up high-value categories, including education, travel, used cars, and short-term rentals.

Several retailers, such as Noon, Fitness Time, IKEA, Almanea, Almosafer, Almatar, and flynas, have already integrated the service.

For businesses, the SME finance license authorises the platform to issue working capital to its merchant partners.

This provides retailers with funding to support their operational growth.

“Tabby already gives millions of people flexibility and control over their money,”

said Hosam Arab, CEO and Co-Founder of Tabby.

“Now we can extend that to the bigger purchases in life, paying for a course, furnishing a home, booking a holiday. It answers clear demand from our customers and puts the same control in their hands.”

SAMA’s latest approval follows Tabby’s graduation from the central bank’s regulatory sandbox to operate under formal oversight.

Featured image credit: Edited by Fintech News UAE, based on image by Tabby