Saudi’s SAMA licenses Themar crowdfunding company

The Saudi Central Bank (SAMA) gave a license on Wednesday to the new debt-based crowdfunding company, Themar. There are now seven authorised companies in Saudi Arabia offering debt-based crowdfunding solutions.

The licensing decision shows SAMA’s attempt to support the finance sector in the Kingdom, as well as increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in KSA.

It is worth mentioning that SAMA stresses on the importance of dealing exclusively with authorised financial institutions.