Riyadh: The Saudi Central Bank (SAMA) has granted a license to ‘Madd Balas’ company to offer debt-based crowdfunding solutions. With the inclusion of Madd Balas, the number of licensed companies providing debt-based crowdfunding solutions in Saudi Arabia has now reached 14. This latest addition increases the total number of finance companies licensed by SAMA to 69.

According to Saudi Press Agency, this decision underscores SAMA’s commitment to supporting the finance sector, enhancing the efficiency of financial transactions, and fostering innovative financial solutions to promote financial inclusion within Saudi Arabia.

SAMA underscores the importance of engaging exclusively with authorized financial institutions. For a list of licensed and permitted financial institutions, individuals are encouraged to visit SAMA’s official website.