SAMA grants license to Jeel Buy Now Pay Later for deferred payment services

The Saudi Central Bank (SAMA) has granted a license to Jeel Buy Now Pay Later to operate deferred payment services in the Kingdom, bringing the total number of licensed finance companies to 78.

SAMA stated that this move is part of its efforts to support the finance sector, enhance the efficiency and flexibility of financial transactions, and encourage innovation in financial services.

The central bank added that the decision aims to boost financial inclusion in Saudi Arabia and ensure that financial services are accessible to all segments of society.

SAMA emphasized the importance of individuals and institutions dealing only with financial entities licensed or authorized by the central bank, which can be verified through the Saudi Central Bank’s official website.