Tamweel Aloula joins Systems Arabia to advance Islamic financing

By Gloria Methri

Tamweel Aloula, a non-bank financing institute, has entered a strategic partnership with Systems Arabia, a subsidiary of Systems Limited, to transform its core lending system. By leveraging Systems Saudi Model Bank on the OpenShift Container Platform, this collaboration aims to revolutionise financing offerings in the Kingdom of Saudi Arabia.

Tamweel Aloula is one of the first financing companies in the Kingdom to offer innovative, shariah-compliant financing solutions, including personal financing, auto leasing, and real estate financing for retail and SME customers.

Systems Arabia, a partner in the region, brings its expertise to Islamic financing companies like Tamweel Aloula. By enhancing their Islamic products portfolio, including Ijarah, Tawarruq, Murabaha, and Home Loan, and utilising regulatory accelerators like Saudi Model Bank, Systems Arabia will support compliance with local market practices and SAMA regulations.

With this implementation, Tamweel will be better equipped to provide advanced and integrated financing solutions and services that allow customers to avail their services from anywhere and at any time, without the need to visit a branch. The scalability of the platform will support Tamweel to set out on its further expansion strategy while diversifying its financial solutions portfolio to meet the needs of a wide range of society segments.

Saleh Al-Afaleq Managing Director Tamweel Aloula said, “By partnering with Systems Arabia, we are leveraging world-class technology, including the Saudi Model Bank, to accelerate our digital transformation. This localised model, designed specifically for the Saudi market, ensures seamless regulatory compliance while enabling us to launch new products faster and expand our reach efficiently.”

Rao Hamid Khan, General Manager of KSA and Bahrain, Systems Arabia, said, “This partnership with Tamweel Aloula strengthens our footprint in the region and builds on our expertise in offering Islamic Financing transformation to leading financing companies. By leveraging our accelerators like Saudi Model Bank, we are well-positioned to provide advanced offerings and capabilities to Tamweel Aloula while implementing a cloud-native and API-driven Core and Digital platform. This transformation will enable Tamweel Aloula to accelerate its role in the Islamic finance landscape in KSA by offering modern and digital solutions to retail clients, supporting the kingdom’s growth.”