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Saudi Central Bank Grants License to ‘Thara’ for Debt Crowdfunding Activities

The Saudi Central Bank, “SAMA,” has announced the granting of a license to “Thara” to start offering debt crowdfunding services. This announcement enhances the list of companies licensed for this type of financing, raising the total to nine companies. Additionally, the total number of licensed or authorized financing companies in the Kingdom has now reached 59.

This step taken by the Saudi Central Bank is part of its efforts to strengthen and empower the financing sector for growth and development. Through this license, the bank aims to increase the efficiency and flexibility of financial transactions, as well as encourage innovation in financial services. The primary goal of this step is to enhance financial inclusion in the Kingdom and ensure that financial services are accessible to all segments of society.

The Saudi Central Bank emphasizes the importance of dealing with financial institutions that hold a license or authorization from “SAMA.” The bank advises verifying these licenses by visiting the official website of the bank to ensure the legitimacy and reliability of these companies.

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