SAMA licenses Thara to provide debt-based crowdfunding solutions

22/01/2024 Argaam

The Saudi Central Bank (SAMA) licensed Thara Investment Co. to provide debt-based crowdfunding solutions, according to a statement today, Jan. 22.

 

With Thara, there are now nine companies authorized to offer debt-based crowdfunding solutions in Saudi Arabia. This addition brings the total number of finance companies licensed and permitted by SAMA to 59, the statement added.

 

The decision reflects SAMA's endeavor to support the financial sector, increase efficiency of financial transactions, and promote innovative financing solutions for financial inclusion in Saudi Arabia, the central bank said.

 

It emphasized the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.

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