Tabby Gets SAMA Approval to Offer Long-Term Payments Up to SAR 50,000

Tabby, the financial services app, has announced that it has received two licenses from the Saudi Central Bank (SAMA): one for consumer financing and another for financing small and medium-sized enterprises (SMEs). This is a big step that will boost the company's expansion in the Kingdom's finance market and allow it to offer new financing solutions to both individuals and businesses. The company explained that these new licenses will enable them to launch long-term payment plans for high-value purchases. They'll also continue to offer their current installment service, which lets you pay in three or four monthly installments without any interest or fees. Plus, they'll now be able to provide working capital for SMEs. You'll find these new payment plans available at several companies and brands registered on Tabby's platform, including Noon, Fitness Time, Samsung, IKEA, Almosafer, Almatar, and Flynas. These plans are for purchases over SAR 2,000, with a financing limit of up to SAR 50,000. Tabby mentioned that this service is currently being rolled out to an initial group of customers and will become available to all eligible customers in the coming weeks.

Sharia-Compliant Financing and Support for High-Spending Sectors

Tabby confirmed that its new payment plans are fully compliant with Islamic Sharia principles, using a Murabaha structure. This means the agreed-upon cost remains fixed throughout the financing period, with no compound interest or late fees. The company will also continue to offer its interest-free and fee-free installment option over three or four monthly payments. They added that these new financing solutions are designed to support sectors that typically involve high spending, such as education, tourism, used cars, and short-term rentals. Businesses in these sectors can activate Tabby's service for purchases, giving customers more extended payment options. For the business sector, the SME financing license allows Tabby to provide working capital to merchants on its platform. This helps them fund their operations and supports their expansion and growth plans.

25 Million Users and 65,000 Businesses

The company clarified that obtaining these two licenses is part of the ongoing development of the regulatory framework in Saudi Arabia. This comes after Tabby successfully completed its testing phase in SAMA's regulatory sandbox and secured its deferred payment services license in 2025. Tabby emphasized that the Saudi Central Bank grants financing licenses to companies that meet strict compliance, security, and customer protection standards. This aligns perfectly with Saudi Vision 2030's goals to expand financial services based on fairness and transparency. Hussam Arab, Co-founder and CEO of Tabby, shared that the company's services help millions of users manage their expenses and make better use of their financial resources. He noted that this new expansion allows customers to finance major purchases that require careful financial planning, like education, furnishing homes, and planning travel, in response to the growing demand for more flexible payment solutions. He added that Tabby aims to give customers the tools they need to control their spending while expanding the range of services offered. Currently, Tabby serves over 25 million registered users and partners with more than 65,000 companies and brands across the GCC countries. Securing these two new licenses further strengthens its position in the Saudi market and supports its expansion into high-value financing areas.