SAMA Expands Financial Landscape: Grants License to 'Alpha Arabia Finance Company' for Diverse Financing Activities

KSA, February 22, 2024 : The Saudi Central Bank (SAMA) has recently granted a license to "Alpha Arabia Finance Company" to conduct financing activities targeting small and medium enterprises, finance leases, and consumer finance.

 This approval marks a significant milestone, bringing the total count of licensed finance companies overseen by SAMA to 60.

The decision reflects SAMA's ongoing efforts to bolster the financial sector and optimize financial transactions within Saudi Arabia. 

SAMA underscores the importance of engaging exclusively with authorized financial institutions for all financial endeavors.

Source : https://www.sama.gov.sa/en-US/Pages/default.aspx