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.