The Saudi Central Bank (SAMA) has issued new licences and sandbox approvals to several fintech firms, the regulator said on September 16, 2025.
SAMA licensed three companies, Muqaranah, Muhlah Zamaniyah, and Hot Spot, for finance aggregation and consumer microfinance activities. Muqaranah and Hot Spot will provide finance aggregation services. Muhlah Zamaniyah will engage in consumer microfinance via fintech channels.
In parallel, SAMA permitted Manafa for Debt-Based Crowdfunding and Tawrid for Financial Solutions to test supply chain finance services within its Regulatory Sandbox. With these additions, the total number of fintech firms operating under the sandbox reached 25.
The regulatory changes increase Saudi Arabia’s licensed fintech providers to 68 finance companies in total. SAMA said the licences and sandbox roles aim to support the financial sector, raise transaction efficiency and foster financial inclusion.
SAMA emphasised that only authorised institutions may offer financial services. It urged businesses and consumers to verify licences on its official website. This is part of SAMA’s strategy under Saudi Vision 2030 to grow fintech and improve oversight.
