Saudi Arabia: SAMA Licenses Consumer Finance Firm, Approves Insurtech Rules, Shares Other Updates

The Saudi Central Bank (SAMA) licensed “Loan” to provide consumer microfinance solutions through financial technology. With Loan, there are now six authorized companies “offering consumer microfinance solutions in Saudi Arabia.” This decision reflects SAMA‘s endeavor “to support the finance sector, increase efficiency of financial transactions,… Read More
Read more in: Asia, Fintech, Insurtech, Investment Platforms and Marketplaces, Politics, Legal & Regulation | Tagged consumer microfinance solutions, financial services, financial technology, fintech adoption, fintech trends, insurance, insurance technology, insurtech, mena, mena region, middle east, operational license, SAMA, saudi arabia