Tamara, the Saudi-based BNPL provider, announced that it has received preliminary approval from the Saudi Central Bank (SAMA) for a license to operate in consumer finance and BNPL activities.
Why it Matters? The approval helps Tamara to offer more financial services and become a Bank.
More to Know:
- Since its launch in 2020, Tamara has been providing BNPL services in Saudi Arabia, then Kuwait and UAE.
- The company has also formed a new Board of Directors and appointed specialized committees, including a Sharia Committee.