SAMA Grants License to BOUABA TSHIL for Consumer Microfinance Solutions

KSA, 11 October, 2024 : The Saudi Central Bank (SAMA) has granted a license to "BOUABA TSHIL" to provide consumer microfinance solutions using financial technology. This brings the total number of licensed consumer microfinance companies in Saudi Arabia to six, with 61 licensed financing companies overall.

SAMA's decision aligns with its goal to enhance the financial sector, promote financial inclusion, and encourage innovative financial solutions. The central bank urged the public to only engage with authorized financial institutions, with a full list available on SAMA's official website.

Source : www.sama.gov.sa