SAMA reduces minimum paid-up capital for finance firms supporting SMEs 

RIYADH: The Saudi Central bank, also referred to as SAMA, has announced adding a subtitle to an existing law, which reduces the minimum paid-up capital for finance firms specialized in financing and supporting small and medium enterprises to SR50 million ($13.3 million), according to a statement.

SAMA said the amendment made to the Implementing Regulation of the Finance Companies Control Law cements its efforts to further develop Saudi Arabia’s SME sector.