Tuesday, July 23, 2024
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Riyadh – The Saudi Central Bank (SAMA) has recently issued a license to “Themar,” making it the latest addition to the list of authorized crowdfunding providers in the country. With Themar joining the ranks, a total of seven companies are now offering debt-based crowdfunding solutions in Saudi Arabia.

This move reflects SAMA’s commitment to bolstering the finance sector, enhancing the efficiency of financial transactions, and promoting innovative financial solutions that foster financial inclusion throughout Saudi Arabia.

The licensing of Themar underscores the growing interest and potential in the crowdfunding landscape within the country. As a licensed platform, Themar is poised to facilitate a range of crowdfunding services, empowering businesses and individuals to raise capital through debt-based mechanisms.

By embracing debt-based crowdfunding solutions, SAMA aims to diversify the financial landscape, opening up new avenues for investment and financing opportunities. The move also aligns with the bank’s strategic focus on fostering an inclusive and accessible financial ecosystem for all stakeholders.

SAMA emphasizes the importance of engaging exclusively with authorized financial institutions to ensure the security and integrity of financial transactions. For a comprehensive list of licensed and permitted financial institutions, interested parties can visit SAMA’s official website.

As Saudi Arabia continues to advance its financial sector and embrace fintech innovations, the licensing of Themar signifies a positive step towards supporting emerging financial technologies and promoting a more dynamic and inclusive financial market. With debt-based crowdfunding gaining momentum, the financial landscape in Saudi Arabia is poised to witness further growth and diversification, offering promising opportunities for investors, businesses, and the broader economy.

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