Riyadh: The Saudi Central Bank (SAMA) has granted a license to 'Aij Company for Financing' to provide financial services to small and medium enterprises and consumers. This new addition marks the 71st finance company to receive licensing from SAMA.
According to Saudi Press Agency, this move underscores SAMA's commitment to bolstering and enabling the finance sector within Saudi Arabia. The licensing is part of an ongoing effort to enhance the efficiency of financial transactions and foster innovative financial solutions, thereby promoting financial inclusion across the kingdom.
SAMA has also highlighted the significance of engaging solely with authorized financial institutions. It has advised the public to ensure they are dealing with licensed and permitted entities by checking the official list available on SAMA's website.