- SAMA Licenses DaftarPay to Offer Buy Now, Pay Later Services
- The approval brings the total number of licensed finance companies in Saudi Arabia to 76, supporting financial innovation and advancing financial inclusion.
The Saudi Central Bank (SAMA) has granted DaftarPay a license to provide Buy Now, Pay Later (BNPL) services, reinforcing the Kingdom’s efforts to strengthen its financial ecosystem and foster innovation in the financing sector.
The new license brings the total number of finance companies licensed by SAMA to 76, reflecting the central bank’s ongoing commitment to developing Saudi Arabia’s financial sector and enabling innovative financial solutions.
According to SAMA, the licensing decision is part of its broader strategy to support the financing industry, enhance the efficiency and flexibility of financial transactions, and encourage innovation in financial services.
The initiative also aims to strengthen financial inclusion by expanding access to financial products and services across the Kingdom.
SAMA also reiterated the importance of dealing only with licensed or authorized financial institutions and encouraged customers to verify the licensing status of financial service providers through its official website.
Read the article in
