New BNPL Rules Issued by the Saudi Central Bank

The Saudi Central Bank (SAMA) has recently issued a new set of rules for Buy Now Pay Later (BNPL) services in the Kingdom. These rules aim to regulate the BNPL market and protect the interests of both consumers and service providers.

Key Provisions

According to the new rules, BNPL service providers must:

  • Establish a joint stock company with a minimum capital of SAR 5,000,000.
  • Follow the rules on outsourcing for finance companies.
  • Hire at least 50% Saudi nationals and increase this percentage annually until it reaches 75%.
  • Limit the total financing amount for each consumer to SAR 5,000.
  • Comply with the requirements related to technology, anti-money laundering, conflict of interest, consumer protection, data privacy, and compliance.

These rules aim to promote financial inclusion and innovation in the Kingdom, as well as to ensure the stability and integrity of the financial system. It’s important for BNPL service providers and consumers to be aware of these new rules and comply with them to avoid any legal penalties.

SAMA’s Statement on BNPL Activity

SAMA has issued a statement regarding the BNPL activity in the Kingdom. According to SAMA, companies that wish to provide BNPL services are required to obtain a permit from SAMA before engaging in the activity. The guidelines for applying for permission to engage in BNPL are available on SAMA’s website.

SAMA has also granted “MIS Forward” a permit to carry out BNPL solution pursuant to Saudi Central Bank law and Finance Companies Control law for providing finance to customers wishing to purchase products and services from merchants without incurring term financing cost. This initiative is aimed at enticing a new segment of investors and companies that can bring added value to the sector for more efficient operation, while maintaining full adherence to the regulatory and supervisory guidelines defined by SAMA.


The new rules issued by SAMA are a significant step towards regulating the BNPL market in the Kingdom. By setting clear guidelines and requirements, SAMA aims to protect the interests of consumers and service providers, promote financial inclusion and innovation, and ensure the stability and integrity of the financial system. It is crucial for all stakeholders to understand and comply with these rules to ensure the sustainable growth of the BNPL market in the Kingdom.