Finance groups urged to use Saudi Arabia’s Tamweel platform

Finance groups urged to use Saudi Arabia’s Tamweel platform
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Updated 03 April 2020

Finance groups urged to use Saudi Arabia’s Tamweel platform

Finance groups urged to use Saudi Arabia’s Tamweel platform

RIYADH: The Saudi Arabian Monetary Authority (SAMA) has urged all finance institutions, including banks, to use the authorized Tamweel e-platform to help beneficiaries benefit from services and to process requests.

Tamweel was established and authorized by the General Authority for Small and Medium Enterprises (Monshaat). The e-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.

SAMA aims to maintain monetary and financial stability, promote sustainable economic growth, and help the finance sector to support the growth of private enterprise.

The authority’s strategy of activating e-channels to provide services aims to contribute to Saudi Vision 2030 and allow the public to benefit from continuous cooperation with government agencies.