- SAMA Licenses Credit Line to Expand Micro Consumer Finance in Saudi Arabia
- The new license brings the total number of licensed finance companies in the Kingdom to 77, supporting financial inclusion and innovation in financial services.
The Saudi Central Bank (SAMA) has granted Credit Line a license to operate as a micro consumer finance company, bringing the total number of licensed finance companies in the Kingdom to 77.
The move is part of SAMA’s ongoing efforts to support the finance sector, enhance the efficiency and flexibility of financial transactions, and foster innovation in financial services. It also aims to strengthen financial inclusion by expanding access to financial services for all segments of society across Saudi Arabia.
SAMA also emphasized the importance of dealing only with financial institutions that are licensed or authorized by the central bank. Customers can verify the licensing status of financial institutions through SAMA’s official website.
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