​In accordance with the authority vested in the Saudi Central Bank (SAMA) under the provision of the Saudi Central Bank Law - issued by Royal Decree No. (M/36) dated 11/04/1442H, Finance Companies Control Law - issued by Royal Decree No. (M/51) dated 13/08/1433H, Real Estate Finance Law , Finance Lease Law, and Implementing Regulations, the Saudi Central Bank (SAMA) carries out the functions of control and supervision of financial institutions, including the regulation of the finance sector, which includes licensing.

Types of Licenses:

1. The establishment of "joint stock" finance companies that are licensed to engage in one or more of the following financing activities:

2. The establishment of companies that carry out finance support activities:

3. The establishment of companies that carry out the activity of registering financial lease contracts.

The Guidelines:

In order, to carry on financing activity / finance support activities, the applicant should review the following documents:

• Financing laws and regulations.

• Financing instructions and rules.

• Circulars issued in the finance sector.

• Guidelines for Applying for a License to Practice Finance Activities & refinancing.
  

• Guidelines for Applying for a License to Engage in Consumer Microfinance Activity.
  

Application Forms:

SAMA underlines the importance of fulfilling all the requirements outlined in the Guidelines before filling out the correspondence application form with respect to the intended activity. All forms are available at the links below:

• License Application Form to Engage in Financing Activities.

• License Application Form for Practicing Finance Support Activities.

• License Application Form for Practicing Consumer Microfinance Activity.

• Application Form Crowdfunding.
  

• Fit and Proper Form for Founding Members of Finance Companies.

• Fit and Proper Form for Founding Members of Supporting Finance Activities Companies

• 'Fit and Proper Form' for members of the board of directors and the membership of senior management.

• License Application Form to Engage in BNPL Activity.
  

• ​Memorandum of Association Form.

• Articles of Association Form.

• Bank Guarantee Form.

• Requirements for Appointment to Senior Positions in Financial Institutions Supervised by the Saudi Central Bank.

Application Process:

The applicant shall submit an application to SAMA using the License Request Form, complete with all information including prerequisite documents and files, and then submit it via email: (LICFCC@SAMA.GOV.SA).

If any changes occur to the given information by license applicant prior to SAMA's decision on the application, the license applicant shall notify SAMA as soon as possible.