{"id":28449,"date":"2024-06-25T14:58:58","date_gmt":"2024-06-25T11:58:58","guid":{"rendered":"https:\/\/entarabi.com\/?p=28449"},"modified":"2024-06-25T18:22:31","modified_gmt":"2024-06-25T15:22:31","slug":"sama-authorizes-sulfa-finance-and-wadae-fintech-to-operate-under-the-regulatory-sandbox","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/06\/sama-authorizes-sulfa-finance-and-wadae-fintech-to-operate-under-the-regulatory-sandbox\/","title":{"rendered":"Sama Authorizes &#8220;Sulfa Finance&#8221; and &#8220;Wadae Fintech&#8221; to Operate Under the Regulatory Sandbox"},"content":{"rendered":"<p>The<a href=\"https:\/\/www.sama.gov.sa\/ar-sa\/Pages\/default.aspx\" rel=\"nofollow noopener\" target=\"_blank\"> Saudi Central Bank (SAMA)<\/a> has announced the authorization for &#8220;<a href=\"https:\/\/sulfah.com\/\" rel=\"nofollow noopener\" target=\"_blank\">Sulfah Finance<\/a>&#8221; to engage in peer-to-peer lending activities and &#8220;<a href=\"https:\/\/www.wadaie.com\/en\/blogs\/664f593eb0be87ec58db16ff\" rel=\"nofollow noopener\" target=\"_blank\">Wadaie Fintech<\/a>&#8221; to engage in time-deposit aggregation activities. This authorization comes under the regulatory sandbox framework supervised by the bank.<\/p>\n<h2><span style=\"font-size: 14pt;\"><strong>Enhancing Innovation and Financial Inclusion<\/strong><\/span><\/h2>\n<p>This decision is part of SAMA&#8217;s efforts to develop the fintech sector, aiming to achieve the goals of the fintech strategy, which include fostering innovation in the financial sector and increasing financial inclusion to provide financial services to all segments of society.<\/p>\n<h2><span style=\"font-size: 14pt;\"><strong>Dealing with Licensed Financial Institutions<\/strong><\/span><\/h2>\n<p>The Saudi Central Bank emphasized the importance of dealing with financial institutions that are licensed or authorized by SAMA, noting that verification can be done by visiting the bank&#8217;s official website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Saudi Central Bank (SAMA) has announced the authorization for &#8220;Sulfah Finance&#8221; to engage in peer-to-peer lending activities and &#8220;Wadaie Fintech&#8221; to engage in time-deposit aggregation activities. This authorization comes under the regulatory sandbox framework supervised by the bank. Enhancing Innovation and Financial Inclusion This decision is part of SAMA&#8217;s efforts to develop the fintech [&hellip;]<\/p>\n","protected":false},"author":37,"featured_media":28450,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810,1772],"tags":[],"class_list":["post-28449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","category-startups"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/28449","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\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=28449"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/28449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/28450"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=28449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=28449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=28449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}