Etihad GO Telecom Group announced that its subsidiary GO Money has obtained the final license from the Saudi Central Bank (SAMA) to conduct micro consumer finance activities in the Kingdom. This comes after the company fulfilled all regulatory and supervisory requirements and successfully completed the operational readiness phases in accordance with the standards approved by the Saudi Central Bank.

The Saudi Central Bank stated:
“This decision comes as part of the Central Bank’s efforts to support and empower the finance sector, enhance the efficiency and flexibility of financial transactions, encourage innovation in financial services, and ultimately strengthen financial inclusion in the Kingdom by expanding access to financial services across all segments of society.”

The Saudi Central Bank also emphasized the importance of dealing exclusively with financial institutions that are licensed or authorized by SAMA, noting that such information can be verified through its official website.

Commenting on this achievement, Yahya bin Saleh Al Mansour, Chairman of Etihad GO Telecom Group and Chairman of the Board of GO Money, stated that obtaining the final license represents a strategic milestone that supports the Group’s direction toward developing innovative digital financial services tailored to the needs of the Saudi market. He added that this approval reflects the Saudi Central Bank’s confidence in the company’s ability to contribute to building an advanced financial ecosystem aligned with the objectives of Saudi Vision 2030.

For his part, Mr. Saleh Alenzi, Chief Executive Officer of GO Money, explained that the company is preparing to launch its micro consumer finance services through an integrated digital platform powered by the latest artificial intelligence technologies and credit analytics. This will enable customers to access fast, flexible, and transparent financing without the need for paperwork or branch visits.

Alenzi added that the company has developed an advanced technological infrastructure, along with robust risk management and compliance frameworks, ensuring the delivery of reliable financing services that fully comply with Saudi Central Bank requirements and meet user expectations with the highest standards of quality.

He concluded by noting that GO Money’s receipt of this license paves the way for the imminent launch of its services to the public, as part of an ambitious expansion plan aimed at introducing new digital financial products that will further strengthen the company’s position in Saudi Arabia’s fintech sector.