Announcement by Morabaha Marina Financing Company regarding the renewal of the license of its subsidiary, Digital Payment Company (Loop), to conduct payment services activities
| Element List | Explanation |
|---|---|
| Announcement Detail | Morabaha Marina Financing Company announces that the Saudi Central Bank (SAMA) has renewed the license of its subsidiary, Digital Payment Company (Loop), to conduct payment services activities as a Large Electronic Money Institution (EMI) in the Kingdom of Saudi Arabia, for a period of five years ending on 05/08/1452H, corresponding to 01/12/2030G. The renewal of the license enables Loop to continue conducting its licensed activities in accordance with the applicable laws, regulations, and instructions issued by the Saudi Central Bank. The Company does not expect the license renewal to have any material direct financial impact on the consolidated financial statements of Morabaha Marina Financing Company. |
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