SAMA Licenses “jak almuqaddimah Company” to Provide Consumer Finance
البنك المركزي السعودي يرخص لشركة "جاك المتقدمة" لمزاولة نشاط التمويل الاستهلاكي
The Saudi Central Bank (SAMA) licensed "jak almuqaddimah" Company to provide consumer finance, bringing the total number of finance companies licensed in the Kingdom to 75. SAMA states the decision supports the finance sector, increases the flexibility and efficiency of financial transactions, encourages innovation in financial services, and aims to enhance financial inclusion so that financial services reach all segments of society. SAMA stresses the importance of dealing only with institutions licensed or authorized by SAMA.
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