Skip to main content
Entire section Custom print Text Only Rich Text Print / Save as PDF
Download Original PDF

Second: Instructions for Applying for a License to Practice Deferred Payment Activities

Date(g): 24/1/2024 | Date(h): 14/7/1445 Status: In-Force

Translated Document

  1. The license application form may not be modified in any way. The license application form must be submitted by the founders or their authorized representative under a certified authorization with a copy attached.
  2. The forms and documents specified in the license application must be submitted in electronic copies as shown in the list.
  3. The terms and expressions used in the license application form shall have the meanings defined in the Finance Companies Control Law and the Rules for Regulating Buy-Now-Pay-Later (BNPL) Companies. The term "applicant" refers to the founders or shareholders of the company applying for SAMA's approval to complete the establishment and licensing procedures to engage in deferred payment activities.
  4. The applicant must ensure the accuracy, completeness, and thoroughness of the information provided in the license application. Providing false information or omitting material disclosures that should have been made for licensing purposes constitutes a violation of the provisions of the Finance Companies Control Law and Article (7) thereof, and may result in the rejection or cancellation of the license application.
  5. Applications for licensing and inquiries can be submitted via email.