Saudi Arabia’s Bidaya Finance secures central bank license to expand Financing services

The Chairman of the Board of Bidaya Finance Company

RIYADH – Bidaya Finance Company announced that it has obtained a license from the Saudi Central Bank (SAMA) to engage in consumer finance, leasing, and small and medium-sized enterprise (SME) financing, in a move aimed at diversifying its services and expanding its footprint in the domestic market.

The company said that the license reflects its strategy to provide Shariah-compliant, innovative, and reliable financing solutions for both individuals and businesses. It also contributes to national efforts under Saudi Arabia’s Vision 2030 to boost financial inclusion and increase the role of SMEs in the economy.

_“Our customers, employees, and partners are the cornerstone of our success,”_ Chairman Abdulaziz bin Saleh Al Omair said in a statement. _“We are also grateful to the Saudi Central Bank for its ongoing support of the financing sector. Through strategic investments in digital transformation and artificial intelligence, we aim to deliver more innovative and trusted solutions that match our clients’ diverse needs and align with the Kingdom’s economic transformation.”_

Bidaya said the step strengthens its position as a digitally focused financial institution and enhances its contribution to Saudi Arabia’s economic development.