SAMA Revokes License of Fas Finance Company
SAMA launches of licenses for non-bank financial institutions
The Saudi Central Bank (SAMA) announced its decision to revoke the license of Fas Finance Company for practicing consumer microfinance activity using financial technology in the Kingdom.
In a statement, SAMA noted that the revocation was based on the company's letter dated 9/3/1447 AH, corresponding to 1/9/2025, requesting to cancel its license following the completion of the liquidation process and cancellation of the commercial register, and based on the decision of the company's owner on 15/1/1447 AH, corresponding to 10/7/2025, for the liquidation of a dormant company.