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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.


Raqamyah is a permitted Peer to Peer (P2P) financing platform by Saudi Arabian Monetary Authority (SAMA) under the Regulatory Sandbox. As a Fintech company,...

Billion-dollar commitment: Saudi’s digital SME financing drive

Saudi Arabia’s Small and Medium Enterprises Bank (SME Bank) and its subsidiaries have signed 20 agreements worth over SAR1 billion (US$266.46 million) with fintech companies and investment funds in a bid to diversify funding solutions for the SME sector.

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 SMEs poised for new Islamic financing options as fintech start-up secures investment

Saudi fintech and peer-to-peer (P2P) lending platform Raqamyah has secured a US$2.3 million investment round that is expected to support its Islamic financing offerings...

Saudi accelerates fintech development with new program

Committed to diversifying its oil-dependent economy through financial services among others, the largest Islamic financial market in the world has rolled out a fintech...

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...

Saudi P2P financing platform eyes Shariah compliance  

A Saudi peer-to-peer (P2P) funding platform is seeking to secure a Fatwa to anchor itself within the religious-conscious Muslim community of the Kingdom in...

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