Barq Receives Initial Approval from SAMA to Add Financing Activities

Barq has taken a new step in its journey after receiving initial approval from the Saudi Central Bank (SAMA) to add financing activities, making it the first digital wallet in the Kingdom to receive initial approval to add financing activities.

The approval includes the development of Sharia-compliant financing products, marking a new step in Barq’s expansion of its activities.

The practice of financing activities and the introduction of related financing products remain subject to completing the applicable regulatory requirements and procedures, as well as obtaining the final approvals required from the Saudi Central Bank.