Riyadh: The Saudi Central Bank (SAMA) licensed Jil Aldaf Alajil Company to engage in buy-now-pay-later activity, bringing the total number of finance companies licensed by SAMA to 78.

According to Saudi Press Agency, the decision reflects SAMA's endeavor to support the finance sector, enhance the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.

SAMA emphasized the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's website.