Tabby gets SAMA license to offer BNPL services in Saudi Arabia

The Saudi Central Bank (SAMA) granted Tabby a license to provide buy now, pay later (BNPL) services, bringing the total number of licensed financing companies in the Kingdom to 68, according to a statement today, Nov. 10.

The license is part of SAMA’s efforts to support the financial sector, enhance the efficiency and flexibility of financial transactions, and encourage innovation in financial services. This should in turn support greater financial inclusion and broader access to financial services across all citizens.

SAMA emphasized the importance of dealing only with licensed or authorized financial institutions. It noted that license verification can be conducted via its official website.