CBB grants BNPL licence to Tamara

The Central Bank of Bahrain (CBB) has given Tamara Bahrain the first ‘Buy Now Pay Later (BNPL)’ licence to operate in the kingdom.

Tamara is a payment platform headquartered in Saudi Arabia with operations in the UAE and Kuwait. It allows shoppers to split payments online and in-store and pay at a later date, with no interest or hidden fees.

Abdulla Haji, Director of Licensing at the CBB, said the BNPL licence marks a significant step in broadening access to consumer credit options. 

“BNPL services have rapidly evolved into a key financial tool for many individuals,” he added.

Faris Al Obaid, Chief Executive of Tamara Bahrain, expressed pride in being the first to receive the BNPL licence in Bahrain. 

He said, “This milestone is a testament to our dedication to empowering consumers with flexible payment options.”