Riyadh - Sharikat Mubasher: The Saudi Central Bank (SAMA) announced permitting "Tabby" company to provide Buy Now Pay Later (BNPL) solutions.

The decision reflects SAMA's endeavor to support the Finance and FinTech sectors by enhancing operational efficiency and innovative financial solutions to promote financial inclusion in Saudi Arabia, according to a statement by the central bank.

With Tabby, five authorized companies are now offering BNPL solutions across Saudi Arabia.  

The BNPL solutions offer finance to customers wishing to buy products and services without incurring financing costs.

However, SAMA emphasizes the importance of dealing exclusively with authorized financial institutions.