SAMA Permits BNPL Company

The Saudi Central Bank (SAMA) permitted “Kadi Pay” to provide Buy Now Pay Later (BNPL) solutions. With Kadi Pay, six authorised companies are now offering BNPL solutions in Saudi Arabia, bringing the total number of licensed/ permitted finance companies to 56. The BNPL solutions provide finance to customers wishing to buy products and services without incurring financing costs.

This decision reflects SAMA’s endeavour to support BNPL, finance and FinTech sectors by enhancing operational efficiency and innovative financial solutions to promote financial inclusion in Saudi Arabia.

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