Saudi Central Bank grants permit to BNPL platform Tamara

By Delisha Fernandes

Tamara, a shopping and payments platform, has announced that Tamara is  a well-established BNPL FinTech to have been granted a permit by the Saudi Central Bank (SAMA) after completing a trial period in their Regulatory Sandbox.

This allows the company to provide better solutions to customers and partner merchants. We are grateful for SAMA’s trust and guidance throughout the Regulatory Sandbox program, and we remain dedicated to driving innovation and delivering exceptional financial services.

SAMA is committed to supporting and enabling the finance and FinTech sectors within the regulatory and supervisory guidelines. SAMA seeks to bring added value to the sector and the economy by attracting new investors and companies. SAMA is actively leveraging technology in financial services to support the broader goals of Vision 2030.

With this move, there are now four authorised companies offering BNPL solutions. SAMA’s continuous support for finance and FinTech is in the context of increasing the efficiency of financial transactions and promoting innovative financial solutions for financial inclusion in the country.

Tamara is a shopping and payment platform in Saudi Arabia and the GCC region. It aims to empower individuals and revolutionise how they shop, pay and bank. Tamara has over 400 employees and operates out of its headquarters in Riyadh, Saudi Arabia and has offices in the UAE, Egypt, Germany and Vietnam