The Saudi Central Bank (SAMA) has granted a license to Tamara Finance, enabling the company to offer consumer finance and buy-now-pay-later (BNPL) services. This addition brings the total number of finance companies licensed and permitted by SAMA to 65.
SAMA emphasised its commitment to supporting the finance sector, enhancing the efficiency of financial transactions, and promoting innovative solutions for financial inclusion in Saudi Arabia. The central bank also stressed the importance of dealing exclusively with authorised financial institutions. A list of licensed and permitted financial institutions is available on SAMA’s official website.
Tamara Finance had previously received preliminary approval from SAMA for a consumer finance license in September 2024. The company, founded in 2020, has rapidly expanded its services across the Gulf Cooperation Council (GCC) region, offering BNPL solutions and other financial products.
The licensing of Tamara Finance aligns with SAMA’s broader strategy to foster innovation in financial services and ensure that financial services are accessible to all segments of society.
