SAMA Urges Financing Institutions to Provide Services through "Tamweel" Platform

The Saudi Arabian Monetary Authority (SAMA) has urged all financing institutions including banks and financing companies to provide their services for beneficiaries through the authorized e-platform "Tamweel", to enable beneficiaries to benefit from services and to process their requests on the platform.

This call comes from SAMA role aiming to maintain monetary and financial stability, promote sustainable economic growth, and to enable financial sector to support the growth of the private sector. SAMA’s strategy of activating e-channels to provide services aims to contribute to the achievement of Saudi Vision 2030 and to provide continuous cooperation with different government agencies for the public benefit.

Tamweel e-platform is established and authorized by General Authority for Small and Medium Enterprises (Monshaat). The platform connects entrepreneurs of small and medium enterprises with authorized financing institutions. It also allows financing companies to compete and provide financing offers for enterprises.