Riyadh – Sharikat Mubasher: Saudi buy now, pay later (BNPL) platform Tamara announced it has received its first official credit rating of A- with a stable outlook from Saudi-based SIMAH Rating Agency (Tassnif), marking a milestone in the company's efforts to diversify its funding sources and expand its access to local capital markets.
The rating reflects Tamara’s strong financial position, high creditworthiness and low credit risk, while underscoring the long-term sustainability of its business. The company said the rating will support its future growth strategy and enable it to broaden its range of financial products and services.
According to Tassnif, the rating was driven by several key strengths, including the quality of the company's assets, improving profitability, and a robust risk management framework.
Mohammed Alahmadi, Chief Financial Officer of Tamara, said the rating validates the company's business model and disciplined approach to risk management as it continues its measured expansion. He added that the achievement will strengthen the confidence of investors and financing partners while helping the company broaden its Shariah-compliant funding sources within Saudi Arabia.
The rating also reinforces Tamara's growth trajectory and supports its contribution to Saudi Arabia's digital economy and Vision 2030 objectives.
