SAMA licensed Madd Balas to offer debt-based crowdfunding solutions, bringing the total number of licensed finance companies to 69
Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed Madd Balas to offer debt-based crowdfunding solutions across the Kingdom, bringing the total number of finance companies licensed by SAMA to 69 companies.
With this addition, there are now 14 licensed companies offering debt-based crowdfunding solutions in Saudi Arabia, the central bank announced in a statement yesterday.
This decision underscores SAMA’s efforts to advance the finance sector, enhance financial transactions efficiency, and promote innovative financial solutions for financial inclusion in Saudi Arabia.