The Saudi central bank (SAMA) has granted a licence to Nayla Finance to operate in the microfinance sector, bringing the total number of finance companies licensed in the Kingdom to 66.
The announcement, made through a press release, is part of SAMA’s broader push to expand financial inclusion and improve access to credit through regulated institutions. The central bank said the move supports its efforts to enhance the efficiency of financial transactions and encourage the development of financial products targeting underserved segments.
SAMA reiterated its directive that individuals and businesses should only engage with licensed financial institutions, pointing to its website for a current list of approved entities.
The licensing of Nayla Finance comes as Saudi Arabia continues to expand its non-bank financial services market. Microfinance has been identified as a key area for growth under Vision 2030, with authorities aiming to increase lending to small businesses and low-income individuals through both digital and traditional models.
SAMA has been actively regulating the sector, with a series of licensing rounds and regulatory updates in recent years designed to attract new players while maintaining oversight. The Kingdom’s microfinance industry includes both traditional players and newer fintech entrants offering app-based credit services.
