The Saudi Central Bank (SAMA) has granted a license to “Tamawal” to offer finance aggregation services, marking a significant step in enhancing the financial sector in the country. With this latest addition, there are now six licensed companies providing finance aggregation services in Saudi Arabia.

This decision reflects SAMA’s commitment to support the financial sector, improve the efficiency of financial transactions, and promote innovative financial solutions aimed at enhancing financial inclusion across the nation. By allowing these new services, SAMA aims to provide consumers and businesses with better access to financial resources.

SAMA has stressed the importance of engaging only with authorized financial institutions. For a complete list of licensed and permitted financial institutions, individuals can visit SAMA’s official website.