SAMA Licenses “Madafuou Alarabia” Company to Engage in BNPL Activity
البنك المركزي السعودي يرخص لشركة "مدفوع العربية" لمزاولة نشاط الدفع الآجل
The Saudi Central Bank (SAMA) announced licensing "Madafuou Alarabia" company to engage in buy-now-pay-later (BNPL) activity, bringing the total number of licensed finance companies to 67. SAMA stated the decision supports the finance sector and enhances the effectiveness and flexibility of financial transactions, encourages innovation in financial services, and promotes financial inclusion in the Kingdom, while emphasizing the importance of dealing only with institutions licensed or authorized by SAMA.
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