The Saudi Central Bank (SAMA) has announced the inclusion of two new fintech companies, Manafa and Tawrid, into its Regulatory Sandbox. Both companies have been granted permission to test innovative supply chain finance solutions within the supervised experimental environment.
Fostering Financial Innovation
This latest development brings the total number of fintech firms currently operating within SAMA’s Regulatory Sandbox to 25. The move underscores the central bank’s ongoing commitment to developing the Kingdom’s financial technology sector, fostering innovation, and promoting greater financial inclusion as part of the nation’s broader economic goals. SAMA continues to emphasize the importance of dealing exclusively with financial institutions that are licensed or permitted to operate in the Kingdom.
About Manafa
Manafa is a Saudi fintech company operating as a debt-based crowdfunding platform. It connects small and medium-sized enterprises (SMEs) seeking financing with a network of both individual and institutional investors, facilitating growth through accessible debt instruments. Its participation in the sandbox will focus on developing and testing supply chain finance solutions.
About Tawrid
Tawrid is a financial solutions provider focused on digital financing for businesses. The company specializes in supply chain finance and invoice financing products, aiming to improve cash flow and provide critical liquidity for businesses operating within various commercial supply chains in the Kingdom.
Source: SAMA
