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Forus secures Series A funding as it plans expansion

Female-founded Islamic fintech start-up Forus Capital has closed a Series A funding round, co-led by a Riyad Bank-backed fintech venture. The undisclosed amount of investment...


Licensed by Saudi Arabia Monetary Authority, Forus is a lending marketplace that enables investors to invest in a marketplace of alternative loans targeted towards...

Raqamyah secures SAMA license to offer SME crowdfunding solutions

Hot on the heels of debt crowdfunding platforms Forus and Tameed receiving their regulatory licenses, Raqamyah also obtained a full license from the Saudi Central Bank (SAMA) to serve the Kingdom’s SMEs.

Two Islamic fintech start-ups secure Saudi Central Bank licenses

After successfully testing their solutions in Saudi Central Bank (SAMA)’s Regulatory Sandbox, debt crowdfunding platforms Forus and Tameed have been granted regulatory licenses to operate in the Kingdom.

Islamic fintech: Alternative financing for SMEs

SMEs play a vital role in developed and developing countries and are major contributors to job creation and growth. According to the World Bank,...

Saudi P2P marketplace gains Shariah approval

A Saudi Central Bank (SAMA)-licensed fintech platform has officially received its Shariah compliant label, thereby providing additional reassurance to faith-conscious consumers and an added...

Saudi issues draft regulations on debt-based crowdfunding as number of Islamic fintech companies grows

The Saudi Arabian Monetary Authority (SAMA) has launched draft regulations on debt-based crowdfunding in the Kingdom, now open for public feedback, as part of its efforts...

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