SAMA raises debt-based crowdfunding limits for MSMEs to SAR 7.5 mn

NOHA.GAD
Oct 20, 2024

Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) issued the updated rules for engaging in debt-based crowdfunding, increasing the credit limits from SAR 5 million to SAR 7.5 million, in a move to promote the finance sector in general and enable the fintech sector in particular.

According to SAMA’s updated rules, the total amount of existing finance provided to micro, small, and medium-sized enterprises (MSMEs) must not exceed SAR 7.5 million. However, debt-based crowdfunding companies can offer finance amounts exceeding SAR 7.5 million to large commercial enterprises, licensed real estate development enterprises, or in the event of obtaining a written no-objection from SAMA.

The central bank had previously published the updated draft rules for engaging in debt-based crowdfunding, seeking comments and feedback from the public and experts to achieve transparency and public participation.


Share

Related News

Ark secures $1mn in pre-seed round led by Core Vision
News
Calendar Icon
October 29, 2024
Ark secures $1mn in pre-seed round led by Core Vision
readmore
Al Rumayyan: FII facilitates over $125bn in deals in seven years
News
Calendar Icon
October 29, 2024
Al Rumayyan: FII facilitates over $125bn in deals in seven years
readmore
Qatar’s Pass raises $2.7mn in pre-series A
News
Calendar Icon
October 29, 2024
Qatar’s Pass raises $2.7mn in pre-series A
readmore
Simplex secures major 8-figure investment led by Exits MENA
News
Calendar Icon
October 29, 2024
Simplex secures major 8-figure investment led by Exits MENA
readmore
Wa’ed Ventures allocates $100mn for Saudi AI startups
News
Calendar Icon
October 29, 2024
Wa’ed Ventures allocates $100mn for Saudi AI startups
readmore
Agritech Nabt closes $1.5mn seed led by Merak Capital
News
Calendar Icon
October 29, 2024
Agritech Nabt closes $1.5mn seed led by Merak Capital
readmore
Adaverse invests SAR 1.69 mn in Web3 startup TGE
News
Calendar Icon
October 28, 2024
Adaverse invests SAR 1.69 mn in Web3 startup TGE
readmore
Saudi finance market value worth SAR 1.5 tn
News
Calendar Icon
October 24, 2024
Saudi finance market value worth SAR 1.5 tn
readmore
SAMA raises debt-based crowdfunding limits for MSMEs to SAR 7.5 mn
News
Calendar Icon
October 20, 2024
SAMA raises debt-based crowdfunding limits for MSMEs to SAR 7.5 mn
readmore
Report: MENA startups collectively raise $282mn investments in September
News
Calendar Icon
October 20, 2024
Report: MENA startups collectively raise $282mn investments in September
readmore