Circyls - Riyadh, Saudi Arabia

Since 2017, Circlys, a fintech company based in Saudi Arabia, has been providing public roscas (rotating credit and saving associate) to members who don't have private circles in their area. Subscription fees are based on the month and value of contribution chosen. Circlys has been approved by SAMA (Saudi Arabia Central Bank) and has implemented a risk-based framework to onboard customers with different risk profiles that may not be profitable or targeted by traditional financial institutions, while keeping the default rate within industry averages.