The Saudi Central Bank (SAMA) has permitted Tabby to provide 'buy now pay later' (BNPL) solutions in the kingdom.

 

With Tabby, five authorised companies are now offering BNPL solutions in Saudi Arabia. The BNPL solutions provide finance to customers wishing to buy products and services without incurring financing costs.

 

This decision reflects SAMA's endeavour to support the finance and FinTech sectors by enhancing operational efficiency and innovative financial solutions to promote financial inclusion in Saudi Arabia, said a Saudi Press Agency report.

 

SAMA emphasises the importance of dealing exclusively with authorised financial institutions, it said.