SAMA licenses Madark Solutions for BNPL activity

BNPL partners must verify Madark Solutions as SAMA-authorised

Financial Services Fintech & Payments
SAMA ·
Change
SAMA licensed Madark Solutions for Financing to engage in buy-now-pay-later activity, bringing the number of SAMA-licensed finance companies to 74.
Why it matters
The licence adds Madark Solutions to Saudi Arabia’s authorised BNPL finance-company perimeter. Merchants, platform partners and compliance teams must verify BNPL relationships against SAMA’s authorised-institution list before treating a provider as permitted.
Implications
  • — Madark Solutions for Financing may provide BNPL activity in Saudi Arabia within the scope of its SAMA licence.
  • — Merchants and platform partners using BNPL services in Saudi Arabia must verify Madark Solutions against SAMA’s authorised financial institutions list before onboarding or promoting the service.
  • — Compliance teams at Saudi finance and fintech firms must update authorised-provider checks to include Madark Solutions for BNPL counterparty review.

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Source
SAMA
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