The Saudi Central Bank (SAMA) authorized Jeel Pay to provide buy-now-pay-later (BNPL) solutions, the central bank said in a statement today, Dec. 10. 

 

With Jeel Pay, there are now seven authorized BNPL providers in Saudi Arabia, bringing the total number of licensed/permitted finance companies to 58, the statement said. 

 

This decision reflects SAMA's endeavor to support the local finance and fintech sectors by enhancing operational efficiency and innovative financial solutions to promote financial inclusion in Saudi Arabia, the statement added. 

 

SAMA also emphasized the importance of dealing exclusively with authorized financial institutions. Licensed and permitted financial institutions can be viewed on the central bank’s official website. 

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request