The Saudi Central Bank announced that it has granted a license to Credit Line to engage in micro consumer finance activities, bringing the total number of licensed finance companies in the Kingdom to 77.

The bank indicated that this decision is part of efforts to support and empower the finance sector, with the aim of increasing the effectiveness of financial transactions and encouraging innovation in financial services.

SAMA added that this step aims to enhance financial inclusion and expand access to financial services to various segments of society in the Kingdom.

In the same context, the Saudi Central Bank stressed the importance of dealing with licensed or authorized financial institutions, calling on the public to verify this through its website.