Latest Updates: KSA Business Licenses with SAMA & CMA
The latest update since January 2024 on SAMA and CMA License Approvals highlights a consistent and positive evolution in the approval process.
Saudi Central Bank (SAMA)
Alpha Arabia Finance Company: Small & Medium Enterprises Financing, Leases, Consumer Finance.
Network International Arabia and Barraq: Payment Services.
Thara: Debt-based crowdfunding solutions.
The total number of finance companies licensed and permitted by SAMA is currently 60 companies. Among them, there are nine authorized companies offering debt-based crowdfunding solutions, and 27 are licensed to provide payment services within Saudi Arabia.
The Capital Market Authority (CMA)
Khwarizmi Capital Company: Managing investments activity in the securities business.
Arat Capital Company: Financial Technology Experimental Permit to test offering and investment in debt instruments.
Quencia Capital Company: Managing investments activity in the securities business.
Competitiveness Financial Company: Financial Technology Experimental Permit to test offering and investment in debt instruments.
Franklin Templeton Financial Company: Managing Investments and Operating Funds and Advising Activities in the Securities Business.
Curious about the booming Saudi fintech scene? Dive deeper in this blog “Paving the Way Forward: Saudi Arabia's Fintech Strategy and Legal Landscape”!
Your feedback matters! Did this update clarify things? Share your thoughts in the comments.
