The Saudi Arabian Monetary Authority (SAMA) has announced the licensing of “Dnaneer Financing” to engage in collective debt financing activities. This announcement comes within the framework of SAMA’s efforts to support and empower the financing sector, aiming to enhance the effectiveness of financial transactions and bolster flexibility.
With this new license granted, the total number of companies licensed for collective debt financing activities reaches 8, contributing to a total of 57 licensed financing companies in the Kingdom.
This step is part of the ongoing endeavor to enhance financial inclusion in the country and broaden the reach of financial services to all segments of society. The central bank emphasizes the significance of dealing with licensed financial institutions that have obtained approval from SAMA, encouraging verification of their credentials through visits to the Saudi Arabian Monetary Authority’s website
