Saudi Arabian Monetary Authority Launches 'Tanfeeth'

Saudi Arabian Monetary Authority Launches 'Tanfeeth'
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Saudi Arabian Monetary Authority Launches 'Tanfeeth'

Saudi Arabian Monetary Authority Launches 'Tanfeeth'

The Saudi Arabian Monetary Authority (SAMA) launched "Tanfeeth" program that aims to provide a direct link between the technological systems of government and the banks operating in the Kingdom for the sake of integration.

SAMA clarified that it seeks through the program to promote the level of cooperation with government agencies to overcome difficulties and obstacles that may face the joint work between SAMA and other entities.

Moreover, it aims to keep pace with the objectives of the Saudi Vision 2030, which focuses on benefiting from modern technologies and e-government applications in addition to upgrading the level of government services in a way that contributes to the reduction of administrative procedures and raises their quality and speed.

SAMA pointed out that the electronic link with Tanfeeth program ensures the confidentiality of information and informs judges thereof within the framework of the procedures of handling cases considered by them including personal status cases.

Governor of SAMA Dr. Ahmad al-Kholifey expressed gratitude to the ministry of justice as the first government authority with which the electronic linking procedures were completed.

Tanfeeth program was established based on the technological platform "Watheiq", which will transform the business sector of SAMA into an electronic service provider. 

This would occur by adopting the best and most reliable technological solutions, providing integrated linking between SAMA and other government technological systems benefiting from the services, and building connections with the financial sector.



SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity
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SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

SAMA Licenses 'Nama United Financing' Company to Provide Finance Activity

The Saudi Central Bank (SAMA) licensed "Nama United Financing" company to provide real-estate finance, production assets finance, small and medium enterprise finance, finance lease, and consumer finance.

According to SPA, this addition brings the number of finance companies licensed and permitted by SAMA to 64 companies.
This decision reflects SAMA's endeavour to support the Finance sector, increase the efficiency of financial transactions, and promote innovative financial solutions for financial inclusion in Saudi Arabia.
SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.