BNPL Tamara receives SAMA license for consumer finance

💳 Tamara has received a consumer finance and BNPL license from the Saudi Central Bank (SAMA), allowing it to offer financing solutions exceeding $1,333 and significantly expanding beyond its previous BNPL limits.

This approval makes Tamara one of 65 licensed finance companies in Saudi Arabia, enabling it to serve a broader customer base and diversify its financial products.

The Saudi-founded unicorn, which raised $340 million in Series C funding in December 2023, operates in Saudi Arabia, the UAE, and Kuwait, offering users the ability to split payments into four instalments.

SAMA emphasised that this licensing supports financial inclusion and innovation in the kingdom's financial sector.