Riyadh, Saudi Arabia — The Saudi Central Bank (SAMA) has officially granted a license to Tabby Finance to conduct deferred payment (Buy Now, Pay Later) activities in the Kingdom, bringing the total number of licensed finance companies to 68.
The move is part of SAMA’s ongoing efforts to strengthen the Kingdom’s financial sector, enhance the efficiency and flexibility of financial transactions, and foster innovation in financial services. By enabling new players such as Tabby Finance, the central bank aims to advance financial inclusion and ensure that financial services are accessible, secure, and reliable for all segments of Saudi society.
Founded in 2019 by Hosam Arab and Daniil Barkalov, Tabby has quickly established itself as one of the leading BNPL platforms in the Middle East. The company allows consumers to split purchases into interest-free installments, offering flexible and convenient payment solutions. Operating across Saudi Arabia, the UAE, and other regional markets, Tabby partners with thousands of merchants, including major retail and e-commerce brands, positioning itself as a key player in shaping the region’s digital payment landscape.
The new license positions Tabby Finance to further contribute to the Kingdom’s Vision 2030 objectives by promoting the adoption of digital payments, supporting financial innovation, and driving economic participation through accessible credit solutions.
SAMA reiterated the importance of dealing exclusively with licensed or authorized financial institutions, encouraging the public to verify licensing information via its official website. This initiative underscores the central bank’s commitment to maintaining transparency, trust, and stability within Saudi Arabia’s evolving financial ecosystem.
