SAMA Permits BNPL Company
البنك المركزي السعودي يصرح لشركة جديدة لمزاولة نشاط الدفع الآجل
The Saudi Central Bank (SAMA) permitted "Cody Pay for Information Technology" company to carry out buy-now-pay-later (BNPL) activity. With this new permit, the total number of companies permitted for this activity reaches six, bringing the number of licensed/permitted finance companies in the Kingdom to 56. SAMA stated the decision supports the BNPL companies sector, financing and fintech companies generally, and aims to raise the effectiveness and flexibility of financial transactions and encourage innovation in financial services in support of financial inclusion.
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