Riyadh, August 01, 2023, In a significant development, the Saudi Central Bank (SAMA) has granted a license to "Themar" to offer innovative crowdfunding solutions. This move marks a notable step forward in the financial landscape of Saudi Arabia, as it opens up new avenues for individuals and businesses to access funding. With this license, Themar is now authorized to facilitate crowdfunding activities, providing a platform for individuals and organizations to raise capital for their projects and ventures. SAMA's decision to license Themar underscores the growing recognition of In a significant development for the crowdfunding landscape in Saudi Arabia, the introduction of Themar has brought the total number of authorized companies offering debt-based crowdfunding solutions to seven. This expansion of options is expected to provide a boost to the country's burgeoning crowdfunding industry. In a move that underscores the Saudi Arabian Monetary Authority's (SAMA) commitment to bolstering the finance sector, enhancing the efficacy of financial transactions, and fostering groundbreaking financial solutions to drive financial inclusion, a significant decision has been made.
In a statement released today, the Saudi Arabian Monetary Authority (SAMA) has underscored the criticality of engaging solely with authorized financial institutions. The regulatory body, responsible for overseeing the Kingdom's financial sector, has emphasized the significance of conducting financial transactions exclusively through approved channels. This directive aims to safeguard the interests of individuals and businesses by ensuring that they interact with reputable and regulated entities. SAMA's emphasis on dealing with authorized financial institutions serves as a reminder of the importance of adhering to proper protocols. For a comprehensive list of licensed and permitted financial institutions, interested individuals are encouraged to visit the official website of the Saudi Arabian Monetary Authority (SAMA).
