Tamam app launches Shariah-compliant microfinance scheme
Tamam Financing Company (Tamam), the financial technology (fintech) has been officially licensed by the Saudi Central Bank (SAMA) as the first company to provide micro-financing services to consumers across the Kingdom.
Tamam Financing Company today announced the certification of its micro-finance Tamam app in light of Sharia principles by Shariyah Review Bureau. The Tamam app will extend a suite of Sharia compliant microfinance loans to borrowers in the Kingdom of Saudi Arabia.
Established in 2019, Tamam aims to increase financial inclusion in the Kingdom in line with the Financial Sector Development Plan of Saudi Arabia's Vision 2030. The platform provides individuals requiring financing the opportunity to immediately avail a Shari'a-compliant consumer micro-finance. The end to-end Shari'a approved process takes less than 5 minutes from downloading the app to receiving the financing amount based on the user credit profile.
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