Riyadh, January 22, 2024, The Saudi Central Bank (SAMA) has granted a license to Thara Company to offer debt-based crowdfunding solutions, as announced in a press release from SAMA. Thara is now among the nine authorized companies providing debt-based crowdfunding solutions in Saudi Arabia. With this addition, the total number of finance companies licensed and permitted by SAMA to operate in the Kingdom has reached 59.
The press release highlighted that this move aligns with SAMA's commitment to supporting the financial sector, enhancing the efficiency of financial transactions, and fostering innovative financial solutions to promote financial inclusion in Saudi Arabia.
SAMA underscores the significance of engaging exclusively with authorized financial institutions and emphasizes the importance of dealing with entities that have received the appropriate regulatory approvals.
For a comprehensive list of licensed and permitted financial institutions, individuals are encouraged to visit SAMA's official website. This transparency in information is crucial for consumers and businesses to make informed decisions and engage with authorized entities in the financial sector.
