Riyadh, Saudi Arabia — The Saudi Central Bank (SAMA) has officially granted a license to Nayla Finance to operate in the field of microfinance, marking another step in the Kingdom’s efforts to expand and strengthen its financial sector. With this addition, the total number of licensed financing companies in Saudi Arabia has reached 66.
The move underscores SAMA’s strategic commitment to supporting and developing the Kingdom’s financing ecosystem by enhancing the efficiency, flexibility, and accessibility of financial transactions across the country.
This licensing decision aligns with the broader objectives of Saudi Vision 2030, particularly the goal of promoting financial inclusion. SAMA continues to prioritize making financial services more accessible to all segments of society, including underserved individuals and small businesses, while encouraging innovation in the financial services landscape.
In its announcement, SAMA reiterated the importance of engaging only with financial institutions that are officially licensed or authorized by the Central Bank. It urged individuals and businesses to verify the status of financial institutions by visiting the official SAMA website.
The licensing of Nayla Finance is expected to contribute significantly to the growth of microfinance services in the Kingdom, offering more diverse and inclusive financial solutions for the population.
