SAMA Grants License to 'Hala Financing' for Debt-Based Crowdfunding

KSA, 16 May, 2024 :  The Saudi Central Bank (SAMA) has authorized "Hala Financing" to offer debt-based crowdfunding solutions, marking the 11th company licensed to provide such services in Saudi Arabia. This addition brings the total number of finance companies licensed by SAMA to 62. The decision underscores SAMA's commitment to bolstering the financial sector, enhancing transaction efficiency, and fostering innovative solutions for financial inclusion in the Kingdom.

SAMA emphasizes the importance of engaging solely with authorized financial institutions and encourages individuals to consult its official website for a list of licensed entities.

Source : www.sama.gov.sa