Dubai-based buy-now-pay-later fintech Tabby has secured dual regulatory approval from Saudi Arabia’s central bank, marking a major expansion milestone in the Gulf’s largest economy. The Saudi Central Bank (SAMA) granted Tabby both consumer finance and SME finance licences today, enabling the company to offer regulated lending products to individual shoppers and small businesses across the kingdom.
The licences position Tabby to significantly scale operations in Saudi Arabia, the region’s most lucrative retail market with strong consumer spending power and growing digital payment adoption. The regulatory greenlight comes as BNPL services face increased scrutiny globally, with Saudi Arabia taking a proactive licensing approach rather than imposing restrictions.
For payments processors, merchant acquirers, and e-commerce platforms operating in the Gulf, Tabby’s expanded regulatory status strengthens its competitive position against rivals like Tamara and international players eyeing the market. The move signals Saudi Arabia’s continued openness to fintech innovation within a controlled regulatory framework.
FXnCO Insight
Fintech firms targeting GCC expansion should prioritize early regulatory engagement with SAMA, as licensing creates significant competitive moats in the region’s fast-growing digital finance sector.
Source: Finextra