Saudi Central Bank licenses Himmah platform for debt crowdfunding

The Saudi Central Bank (SAMA) announced on Monday that it has granted a license to Himmah Financing Platform to operate debt crowdfunding activities, bringing the total number of licensed financing companies in the Kingdom to 78.

The Central Bank stated that this decision is part of its ongoing efforts to support and empower the financing sector, aiming to enhance the efficiency and flexibility of financial transactions and to encourage innovation in financial services.

SAMA added that this move seeks to promote financial inclusion in Saudi Arabia and ensure that financial services are accessible to all segments of society, supporting economic growth and aligning with the goals of Saudi Vision 2030.

The Central Bank also emphasized the importance of dealing only with financial institutions licensed and authorized by SAMA, noting that verification can be done through its official website.