Riyadh, Saudi Arabia – The Saudi Central Bank (SAMA) has officially granted a license to Tamawal® to operate as a Finance Aggregation Services provider, marking a significant milestone in the Kingdom’s efforts to enhance innovation and inclusivity within the financial sector.
With this latest approval, Tamawal becomes the sixth licensed company authorized to offer finance aggregation services in Saudi Arabia, further enriching the country’s fintech ecosystem.
In a press release, SAMA reaffirmed its commitment to strengthening the financial sector by increasing the efficiency of financial transactions, promoting innovative digital solutions, and advancing financial inclusion across the Kingdom. The licensing of Tamawal reflects this strategic vision.
Earlier this year, in March, SAMA also licensed Tamara Finance to provide consumer finance and Buy Now, Pay Later (BNPL) services, underscoring the regulator’s ongoing efforts to nurture a competitive and technology-driven financial services environment.
In an official statement, Tamawal expressed pride in receiving the license and emphasized its commitment to delivering cutting-edge digital financial solutions that meet the evolving needs of clients while supporting the broader growth of the Saudi financial sector.
“We believe this milestone will contribute to enabling innovation in financial services, enhancing the efficiency and flexibility of financial transactions, and promoting financial inclusion in Saudi Arabia,” the company stated.
SAMA continues to urge consumers and businesses to engage exclusively with licensed and authorized financial institutions to ensure the security and integrity of financial transactions.
