Saudi Central Bank, known as SAMA, has granted a licence to Al‑an Alkhaligia to offer consumer microfinance services via fintech. This raises the total number of consumer microfinance providers authorised by SAMA to seven.
The move forms part of SAMA’s broader efforts to bolster the finance industry, improve transaction efficiency, and advance financial inclusion in the Kingdom. The regulator reinforced the necessity of engaging only with authorised financial institutions, referring stakeholders to its official website for the full list of licences.
This licence follows earlier approvals: Nayla Finance became the 66th finance company when it was licensed in April, and Madafuou Alarabia was licensed in June, bringing the count to 67. Meanwhile, the consumer microfinance segment now includes seven providers with Al‑an Alkhaligia’s approval, up from six.
By advancing its fintech licensing, SAMA signals a shift in strategy to extend digital lending options. It aligns with the Kingdom’s Vision 2030 goal to expand financial inclusion and diversify financing models, particularly by incorporating Sharia-compliant pathways.
