{"id":10704,"date":"2023-12-11T18:18:09","date_gmt":"2023-12-11T15:18:09","guid":{"rendered":"https:\/\/entarabi.com\/?p=10704"},"modified":"2023-12-11T18:32:36","modified_gmt":"2023-12-11T15:32:36","slug":"the-saudi-central-bank-grants-jeelpay","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2023\/12\/the-saudi-central-bank-grants-jeelpay\/","title":{"rendered":"The Saudi Central Bank Grants &#8220;JeelPay&#8221; Company Permission to Engage in Deferred Payment Activity"},"content":{"rendered":"\n<p dir=\"ltr\">The Saudi Central Bank, known as &#8220;SAMA,&#8221; has announced the granting of permission to the digital technology company &#8220;JeelPay&#8221; to engage in deferred payment activities, thereby raising the number of companies authorized for this activity to seven. This initiative falls within the bank&#8217;s efforts to support and empower the sector of deferred payment companies, financial technology, and financing companies in general.<\/p>\n\n\n\n<p dir=\"ltr\">With the number of companies authorized to conduct deferred payment activities reaching seven, the total number of licensed\/authorized financing companies in the Kingdom has risen to 58. This reflects the Saudi Central Bank&#8217;s commitment to enhancing the effectiveness and flexibility of financial transactions and supporting innovation in the provided financial services.<\/p>\n\n\n\n<p dir=\"ltr\">This step is part of the Saudi Central Bank&#8217;s pursuit to enhance the level of financial inclusion in the Kingdom and provide financial services to all segments of society. It underscores the importance of dealing with licensed or SAMA-authorized financial institutions, where the status of licenses and permissions can be verified by visiting the Saudi Central Bank&#8217;s official website.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who is the JeelPay platform that was granted permission by the Saudi Central Bank?<\/strong><\/h2>\n\n\n\n<p dir=\"ltr\">&#8220;JeelPay&#8221; is a financial technology platform that has developed a solution to facilitate the payment and collection process within educational institutions. Parents have the ability to pay their children&#8217;s tuition fees monthly using the &#8220;Study Now, Pay Later&#8221; model, while schools can collect funds upfront rather than engaging in time-consuming collection processes.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"438\" sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"https:\/\/entarabi.com\/wp-content\/uploads\/2023\/12\/\u0645\u0646\u0635\u0629-\u062c\u064a\u0644-\u0628\u0627\u064a-1-1024x438.png\" alt=\"The Saudi Central Bank Grants &quot;JeelPay&quot; Company Permission to Engage in Deferred Payment Activity\" class=\"wp-image-10706\" style=\"width:395px;height:auto\" srcset=\"https:\/\/entarabi.com\/wp-content\/uploads\/2023\/12\/\u0645\u0646\u0635\u0629-\u062c\u064a\u0644-\u0628\u0627\u064a-1-1024x438.png 1024w, https:\/\/entarabi.com\/wp-content\/uploads\/2023\/12\/\u0645\u0646\u0635\u0629-\u062c\u064a\u0644-\u0628\u0627\u064a-1-300x128.png 300w, https:\/\/entarabi.com\/wp-content\/uploads\/2023\/12\/\u0645\u0646\u0635\u0629-\u062c\u064a\u0644-\u0628\u0627\u064a-1-768x329.png 768w, https:\/\/entarabi.com\/wp-content\/uploads\/2023\/12\/\u0645\u0646\u0635\u0629-\u062c\u064a\u0644-\u0628\u0627\u064a-1.png 720w\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Advantages of Using JeelPay Platform<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Advance Payments and Efficient Expense Management: <\/strong>With &#8220;Jeel,&#8221; you can receive payments in advance and efficiently manage your expenses, simplifying financial management and collection operations.<\/li>\n\n\n\n<li><strong>Increased Demand and Attraction of More Students:<\/strong> By offering deferred payment options through &#8220;Jeel,&#8221; you can attract more students, enhancing competitiveness and increasing the number of beneficiaries.<\/li>\n\n\n\n<li><strong>Administrative Effort Reduction:<\/strong> The &#8220;Jeel&#8221; platform allows you to offload the burdens of fee collection, enabling you to focus more on your core educational activities without administrative exhaustion.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Distinctive Features of JeelPay Platform<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Easily Add New Installment Plans:<\/strong> You can effortlessly add new installment plans for beneficiaries and keep track of all the plan details.<\/li>\n\n\n\n<li><strong>Request Tracking and Management:<\/strong> Jeel platform enables you to manage and track all installment requests submitted by beneficiaries through your central control panel.<\/li>\n\n\n\n<li><strong>Plan Status Monitoring:<\/strong> The platform allows you to monitor beneficiaries&#8217; payment statuses to manage certificate withholding according to specified terms and conditions.<\/li>\n<\/ul>\n\n\n\n<p>These features make JeelPay platform an ideal solution for streamlining payment and collection processes within educational institutions in an effective and innovative manner.<\/p>\n\n\n\n<p dir=\"ltr\">The reality of the advancement in financial technology and its positive impact on the education sector is evident through the &#8220;JeelPay&#8221; platform. Providing deferred payment options and efficiently managing collection operations significantly contributes to creating a more effective educational environment, easing payment and collection processes for both schools and parents alike. Therefore, the Saudi Central Bank announced granting permission to the digital technology company &#8220;JeelPay&#8221;.<\/p>\n\n\n\n<p dir=\"ltr\">Through its diverse advantages and features, the &#8220;<a href=\"https:\/\/www.jeel.co\/\" rel=\"nofollow noopener\" target=\"_blank\">JeelPay<\/a>&#8221; platform enhances innovation in financial services offered to educational institutions. It reflects its commitment to providing sophisticated technological solutions that efficiently and effortlessly meet the needs of the education sector.<\/p>\n\n\n\n<p><strong>Read Also: <\/strong><a href=\"https:\/\/entarabi.com\/en\/2023\/12\/fintech-accelerator-graduates-10-companies\/\">Fintech Accelerator Graduates 10 Companies<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Saudi Central Bank, known as &#8220;SAMA,&#8221; has announced the granting of permission to the digital technology company &#8220;JeelPay&#8221; to engage in deferred payment activities, thereby raising the number of companies authorized for this activity to seven. This initiative falls within the bank&#8217;s efforts to support and empower the sector of deferred payment companies, financial [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":10700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1809],"tags":[],"class_list":["post-10704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-commerce"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/10704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=10704"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/10704\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/10700"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=10704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=10704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=10704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}