Investment entrepreneur Samer Choucair affirmed that the Saudi Central Bank (SAMA) granting a license to Credit Line to operate in micro-consumer finance represents a new step toward strengthening financial inclusion and expanding the base of financial services in the Kingdom, in line with Saudi Vision 2030’s goals of diversifying the economy and supporting private-sector growth.
Choucair explained that this license raises the number of licensed finance companies supervised by SAMA to 77, reflecting the evolution of the regulatory environment and regulators’ confidence in the market’s ability to absorb more specialized companies, helping raise competition levels and improve the quality of financing services and products offered to individuals.
Choucair noted that the expansion of micro-consumer finance activity provides more flexible financing solutions for broad segments of society, helping strengthen financial inclusion and support consumer spending, as one of the important drivers of economic activity, particularly amid continued growth in non-oil sectors.
Choucair added that the regulatory environment SAMA is developing balances consumer protection with encouraging innovation, which strengthens investor confidence in the financial services sector and opens the door for companies to develop digital products based on modern technology and advanced credit analytics.
Choucair affirmed that the Saudi financial sector is seeing growing investment opportunities amid the expansion of non-bank financing activities, whether through strategic partnerships or M&A activity, noting that institutional investors are placing growing focus on companies capable of combining strong governance, operational efficiency, and technological innovation.
Choucair explained that the continued growth of the sector requires maintaining high levels of credit risk management, alongside developing customer-assessment tools and leveraging digital solutions, ensuring sustainable growth and maintaining the quality of financing portfolios amid growing competition.
Samer Choucair concluded by affirming that the expansion of the micro-consumer finance sector reflects the depth of the economic and financial reforms underway in the Kingdom, strengthens Saudi Arabia’s position as one of the region’s most developed financial markets, and offers promising opportunities for investors seeking to benefit from the continued growth of the services sector.