The company finances its clients through the Murabahah and leasing systems and Tawarq (Cash financing), its financing services cover the following products:

  • Cash Financing.
  • Contract Finance.
  • Most of Vehicle types and brands, whether new or used.
  • Large buses for companies and institutions working in the field of Hajj and Umrah.
  • Medical devices and equipment for hospitals and the health sector.
  • Home and electronic appliances.
  • Heavy equipment.

Documents required for enterprise and corporate financing:

Documnet Enterprise Corporate
An application for the establishment papers seeking financing stating the number and type of cars certified by the Chamber of Commerce
Financial statement and approved budget for the last year
SIMA Report
Valid commercial registration
Bank statement for the facility for the last six months
A valid copy of the identity of the facility owner
A copy of practice the activity license
Certificate of VAT registration
Articles of partnership for the companies, if one of the partners is a company, a copy of the commercial registration and the Articles of partnership is also required
A copy of the social insurance (GOSI)
A copy of the Department of Zakat and Tax Certificate
Photocopies of contracts and agreements concluded by the enterprise or corporate (existing and future) which related to its activities stamped by the branch and signed by the branch manager
Approved finance statement for the last two years in case the accounts receivable exceed 10 million riyals
Letter of delegation of dues by the finance requesters
Documnet Establishment Corporate
A request on the head letter of the Enterprise, showing interest to obtain financing, advising the number and type of products and attested by the Chamber of Commerce
Financial Report and Statements of Accounts for the most recent year
Valid commercial registration
Bank statement of the Enterprise for the last six months, printed on the bank's publications
A copy of the valid ID of the Owners of the Enterprise
Proof of the principal place of business (Municipality License)
Request for personal guarantee from the Owner The Owner The Owner
of the majority percentage
of ownership
VAT Registration Certificate
Articles of Association for Companies, if one of the Partners is a Company, a copy of the Commercial Registration and the Articles of Association are also required
A copy of the decision of appointing the General Manager in case it was stated in the Articles of Association that he is to be appointed by a decision from the Board of Directors
A copy of the GOSI Certificate
A copy of the Department of Zakat and Tax Certificate
Copies of contracts and agreements concluded by the Enterprise (current and future) that relate to its activities, attested by the Branch and signed by the Branch Manager as being a True Copy. (Optional)
The funding grant policy is subject to evaluation by the Finance Sectors Department and the Credit Committee.

An illustrative example:

Product Finance rate APR Admin Fees Min – Max administrative fees
Financing car through financial leasing From 8% to 11.5% From % to % 1% 0 To 5000
This table is an example. The annual percentage rate may vary according to the amount, maturity period and credit score of each client.