The Saudi Central Bank (SAMA) announced on 13 November 2025 the revocation of the licence it had granted to FAS Finance Company to practise consumer microfinance activity using financial technology in the Kingdom of Saudi Arabia. The cancellation followed a formal request submitted by FAS Finance itself, dated 1 September 2025, in which the company sought to surrender its licence on the basis that it had completed its liquidation process and cancelled its commercial register.
The sequence of events traces to a decision made on 10 July 2025 by FAS Finance's owner to liquidate the company, which had by that point been operating as a dormant entity. Having wound down its affairs and struck its commercial registration from the relevant authorities, the company then pursued the formal step of requesting SAMA's agreement to cancel the fintech licence.