Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) licensed Madark, a Riyadh-based financing solutions provider, to engage in buy now, pay later (BNPL) activities across the Kingdom.

With this license, the total number of SAMA-licensed finance companies reached 74, according to the official statement released by SAMA today.

Madark is a BNPL platform designed for educational organizations, enabling students and parents to access quality education with flexible payment options. By partnering with schools and institutions, the platform removes financial barriers, offering interest-free or low-cost installment plans, making education more affordable and accessible for all.

This decision underscores SAMA’s ongoing commitment to supporting the finance sector, enhancing the efficiency of financial transactions, and promoting innovative financial solutions for financial inclusion in Saudi Arabia.