SAMA Licenses 'Tak Mal for Financing' Company to Engage in Consumer Microfinance Activity

The Saudi Central Bank (SAMA) licensed “Tak Mal for financing” company to engage in consumer microfinance activity through financial technology. With “Tak Mal for financing,” there are now 11 licensed companies offering consumer microfinance solutions in Saudi Arabia. This addition brings the total number of finance companies licensed by SAMA to 72 companies.

 This decision reflects SAMA’s endeavor to support the finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

 SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.