MIS Forward has received authorization from the Saudi Central Bank (SAMA) to offer Buy Now Pay Later (BNPL) services in Saudi Arabia.
This service will allow customers to purchase products and services from merchants without incurring term financing costs, in compliance with SAMA’s laws and regulations. The approval of buy now pay later services aims to attract new investors and companies to the sector for more efficient operation while adhering to SAMA’s guidelines.
This initiative is part of SAMA’s commitment to supporting the financial sector and fintech firms to make the financial system in the Kingdom more efficient and inclusive. The approval of BNPL services for MIS Forward is a step towards achieving the objectives of the Kingdom’s fintech strategy to become a world leader in the sector.
