Saudi Arabian Monetary Authority launch Licenses for Activities Supporting Financing Sector

Saudi Arabian Monetary Authority launch Licenses for Activities Supporting Financing Sector

The Saudi Arabian Monetary Authority (SAMA) has launched licenses for activities that support the financing sector, by announcing the issuance of the first license for a practicing company of this activity in the Kingdom of Saudi Arabia, which is the National Finance Services Company, to practice activities supporting the financing activity, as a closed joint-stock company with a capital of SR 80 million.

This step comes from SAMA’s supportive role to enable the finance sector by allowing new and supporting activities to strengthen the sector and support companies and facilitate their business. It also comes in line with the Authority’s role in enhancing financial stability and supporting opportunities for economic growth and development being witnessed by the Kingdom towards achieving the goals of the Kingdom’s Vision 2030.