SAMA Approves Two FinTech Innovators to Join Regulatory Sandbox

The Saudi Central Bank (SAMA) has permitted Manafa for Debt-Based Crowdfunding and Tawrid for Financial Solutions to test their supply chain finance solutions within SAMA’s Regulatory Sandbox.

According to a press release issued by the SAMA today, the total number of FinTech companies currently operating under SAMA’s Regulatory Sandbox has increased to 25, underscoring the Central Bank’s ongoing efforts to develop the Saudi FinTech sector and its commitment to promoting financial inclusion and innovation.

SAMA emphasized the importance of dealing exclusively with authorized financial institutions. A list of licensed and permitted institutions is available on SAMA’s official website.