SAMA Licenses Debt-Based Crowdfunding Company

The Saudi Central Bank (SAMA) licensed “Dnaneer Financing Company” to provide crowdfunding solutions. With “Dnaneer Financing Company,” there are now (8) authorized companies offering debt-based crowdfunding solutions in Saudi Arabia. This addition brings the total number of finance companies licensed by SAMA to (57) companies.

This decision reflects SAMA’s endeavor to support the financial sector, increase efficiency of financial transaction and promote innovative financial solutions for financial inclusion in Saudi Arabia.

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