Tamweel AlOula and Riyad Capital participates launch investment fund

By Leandra Monteiro

Tamweel AlOula, licensed by the Central Bank of Saudi Arabia (Sama), has signed a partnership agreement with Riyad Capital to launch the “Riyadh Finance Fund” as the first investment fund of its kind in indirect financing. The size of the participatory financing fund is more than 200 million riyals. The fund aims to invest in the financing business and purchase contractual assets for the company’s clients.

This agreement comes as part of the company’s strategy to diversify partnerships with Saudi banks and investment banks licensed by the Capital Market Authority, thus enhancing the role of the financial sector in supporting the national economy and achieve 2030 Vision.

Tamweel Al-Oula is one of the first financing companies in the Kingdom. Tamweel AlOula offers many innovative financing solutions that are compatible with the provisions of Islamic Sharia for individuals, institutions and companies.

TAMWEEL ALOULA has been operating since 2006. Since that the company has been providing innovative financing solutions complying with Islamic Shariah for the following products; Home Appliances, Automotive & Heavy equipment through its strategic partners. TAMWEEL ALOULA Operations are currently concentrated in the eastern province and planning to spread widely in the whole Kingdom of Saudi Arabia in the future.