Saudi Central Bank licenses Himmah platform for debt crowdfunding

The Saudi Central Bank (SAMA) has granted Himmah Platform a license to operate debt crowdfunding services, bringing the total number of licensed financing companies in the Kingdom to 78.

This decision is part of the central bank’s efforts to support and empower the financing sector, aiming to enhance the efficiency and flexibility of financial transactions, as well as to encourage innovation in financial services.

SAMA stated that this move is intended to promote financial inclusion in Saudi Arabia and facilitate access to financial services for all segments of society.

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