The Saudi Central Bank (SAMA) has officially announced the revocation of the license granted to Fas Finance Company, a firm that was authorized to practice consumer microfinance through financial technology within the Kingdom. The decision formalizes the closure of the fintech company, which had already ceased its operations.
A Voluntary Surrender
In its official statement, SAMA clarified that the revocation was not a punitive measure but a procedural action initiated at the company’s own request. The process began following a decision by the company’s owner on July 10, 2025, to liquidate the dormant entity.
After completing the liquidation process and canceling its commercial register, Fas Finance Company submitted a formal letter on September 1, 2025, requesting the cancellation of its license. SAMA’s announcement finalizes this voluntary wind-down, officially removing the company from the register of licensed financial technology firms in Saudi Arabia.
Regulatory Oversight in the Kingdom
This move underscores SAMA’s active role in managing the regulatory landscape for the burgeoning fintech sector in Saudi Arabia. While the central bank is focused on fostering innovation and licensing new players, its mandate also includes overseeing the entire lifecycle of financial companies, including orderly market exits. For founders and investors, this action reinforces the established legal and regulatory frameworks that govern both the entry and dissolution of fintech ventures in the country.
About Fas Finance Company
Fas Finance Company was a Saudi-based firm licensed by the Saudi Central Bank (SAMA) to provide consumer microfinance services using financial technology. The company has since completed its liquidation process and is no longer operational.
Source: SAMA
