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Jul 9, 2025

SAMA licenses Awn to offer consumer microfinance services

Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed Awn Alraidah Microfinance Company (Awn) to engage in consumer microfinance activity through financial technology.With Awn, the total number of licensed companies offering consumer microfinance solutions in Saudi Arabia reached nine, bringing the total number of finance companies licensed by SAMA to 68 companies, the apex bank announced yesterday.This addition reflects SAMA’s commitment to fostering the finance sector, enhancing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in the Kingdom.Awn utilizes state-of-the-art digital technology to provide consumer microfinance services while enhancing user experience. It aims to contribute to customers' financial well-being and inclusion by delivering Sharia-compliant, trusted solutions that give them access to affordable financing. It is committed to safeguarding customers and investors through clear governance, risk controls, and other protective measures that ensure the safety and confidentiality of data and information.

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SAMA licenses Awn to offer consumer microfinance services

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Saudi fintech sector exceeds 2024 goals with 261 operating firms
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Jul 14, 2025
Saudi fintech sector exceeds 2024 goals with 261 operating firms

MUBASHER.SA

Network International, Magnati secure regulatory approval to merge
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Jul 13, 2025
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SAMA licenses Awn to offer consumer microfinance services
Calendar Icon
Jul 9, 2025
SAMA licenses Awn to offer consumer microfinance services

Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed Awn Alraidah Microfinance Company (Awn) to engage in consumer microfinance activity through financial technology.With Awn, the total number of licensed companies offering consumer microfinance solutions in Saudi Arabia reached nine, bringing the total number of finance companies licensed by SAMA to 68 companies, the apex bank announced yesterday.This addition reflects SAMA’s commitment to fostering the finance sector, enhancing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in the Kingdom.Awn utilizes state-of-the-art digital technology to provide consumer microfinance services while enhancing user experience. It aims to contribute to customers' financial well-being and inclusion by delivering Sharia-compliant, trusted solutions that give them access to affordable financing. It is committed to safeguarding customers and investors through clear governance, risk controls, and other protective measures that ensure the safety and confidentiality of data and information.

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Saudi fintech sector exceeds 2024 goals with 261 operating firms
Jul 14, 2025
Saudi fintech sector exceeds 2024 goals with 261 operating firms

MUBASHER.SA

Network International, Magnati secure regulatory approval to merge
Jul 13, 2025
Network International, Magnati secure regulatory approval to merge

MUBASHER

SAMA licenses Awn to offer consumer microfinance services
Jul 9, 2025
SAMA licenses Awn to offer consumer microfinance services

Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed Awn Alraidah Microfinance Company (Awn) to engage in consumer microfinance activity through financial technology.With Awn, the total number of licensed companies offering consumer microfinance solutions in Saudi Arabia reached nine, bringing the total number of finance companies licensed by SAMA to 68 companies, the apex bank announced yesterday.This addition reflects SAMA’s commitment to fostering the finance sector, enhancing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in the Kingdom.Awn utilizes state-of-the-art digital technology to provide consumer microfinance services while enhancing user experience. It aims to contribute to customers' financial well-being and inclusion by delivering Sharia-compliant, trusted solutions that give them access to affordable financing. It is committed to safeguarding customers and investors through clear governance, risk controls, and other protective measures that ensure the safety and confidentiality of data and information.