SAMA Permits 2 BNPL Companies
البنك المركزي السعودي يصرح لـشركتين لممارسة نشاط الدفع الآجل
The Saudi Central Bank (SAMA) announced on 30/05/2023 that it has licensed two companies to conduct buy-now-pay-later (BNPL) activity in the Kingdom: Spotii Arabia for Information Technology and Madfu' Limited. The authorization is based on the Saudi Central Bank Law and the Finance Companies Control Law, and aims to enable customers to finance purchases of goods or services from merchants with no deferred cost charged to the customer. SAMA stated that this step supports the finance and fintech sector, promotes financial inclusion, and advances the goals of the Financial Technology Strategy.
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