The Saudi Central Bank (SAMA) announced licensing "Credit Line" to engage in micro consumer finance activity, bringing the total number of licensed finance companies to 77.

The Central Bank said the decision comes within its efforts to support the finance sector and enable it to raise the level of efficiency and flexibility of financial transactions, and encourage innovation in the financial services provided.

The decision aims to enhance the level of financial inclusion in the Kingdom, and the access of financial services to all segments of society.

The Saudi Central Bank emphasized the importance of dealing with financial institutions licensed or authorized by it, and verifying them through its website.

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