Tag "Saudi Central Bank"
Saudi Central Bank Issues Rules for BNPL Companies
The Saudi Central Bank (SAMA) announces the issuance of the “Rules for Regulating Buy Now Pay Later (BNPL) Companies,” as part of its role in supervising and controlling the BNPL companies. This decision reflects SAMA’s continuous efforts to develop the
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Saudi Arabia Central Bank Licenses 2 New Insurance Aggregation Companies
The Saudi Central Bank (SAMA) licensed “Al-tizam for electronic insurance brokerage” and “Altheqa Insurance Brokers” to provide insurance aggregation services (soft launch). With Al-tizam and Altheqa, there will be five authorized insurance aggregation companies operating in Saudi Arabia. This decision
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Saudi Arabia Licenses Debt-Based Crowdfunding Startup Themar
The Saudi Central Bank (SAMA) licensed “Themar” to provide crowdfunding solutions. With Themar, there are now seven authorized companies offering debt-based crowdfunding solutions in Saudi Arabia. This decision reflects SAMA’s endeavor to support the finance sector, increase efficiency of financial
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The Saudi Central Bank Permits Additional BNPL Company
The Saudi Central Bank (SAMA) permitted “Tabby” to provide Buy Now Pay Later (BNPL) solutions. With Tabby, there are now five authorized companies offering BNPL solutions in Saudi Arabia. The BNPL solutions provide finance to customers wishing to buy products
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Saudi Central Banks Seeks Public Consultation on BNPL Regulation
The Saudi Central Bank (SAMA) seeks public consultation on the draft “Rules for Regulating Buy Now Pay later (BNPL) Companies.” In the interest of transparency and wider participation, SAMA invites stakeholders and public to provide suggestions and observations on the
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Saudi Licenses 24th Fintech Company
The Saudi Central Bank (SAMA) licensed “Rasid Payments Company for Financial Technology” to provide payment solutions through point of sales (POS). This addition brings the total number of payment companies licensed by SAMA to 24, in addition to six companies
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Saudi Central Bank Updates Its Regulatory Sandbox Framework to Drive Innovation
The Saudi Central Bank (SAMA) announced that it has updated its Regulatory Sandbox framework as part of its efforts to achieve national strategic goals in the Financial Sector Development Programme (FSDP), a key objective of the Saudi Vision 2030. The
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Saudi Central Bank Permits 3 New Open Banking Solution Provider Through Its Regulatory Sandbox
The Saudi Central Bank (SAMA) announced granting “Bwatech”, “Rabet”, and “Mala’a”, the permit to operate under its Regulatory Sandbox, bringing the total number of its permitted FinTech companies to 35. The announcement came during the Global Entrepreneurship Congress sponsored by
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Saudi Fintech Tamara Raises US$ 6 Million in Largest Seed Funding Round in the Kingdom
Tamara, a Saudi-based buy now pay later platform, announced the closure of its seed funding round with an investment of 22.5 million Saudi riyals (US$ 6 million) led by the Impact46 Venture Capital Fund. The startup reported that this is
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Zain’s Fintech Arm First to Receive Micro Loans License From Saudi Central Bank
Zain Group, a telecommunications company in the Middle East and North Africa region, announced that its fintech arm Tamam has been officially licensed by the Saudi Central Bank (SAMA) to provide micro-financing services to consumers across the Kingdom. This makes Tamam
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