Saudi Finance Company
Saudi Finance Company was one of the first companies to have recognized the need for Islamic consumer finance in the Kingdom. Equipped with this knowledge and insight, Saudi Finance Company established itself in 1990, as one of the leading pioneers in consumer finance, with a capital of SR 10 million under the full ownership of Abdullah Ibrahim Alkhorayef and sons.
The sole purpose behind creating the company was to supply the market place with Islamic financial solutions and structures that would satisfy the increasing demand and cater to the evolving consumer needs.
The first branch was operational in Riyadh in 1991, followed by the Qassim branch in 2001, and finally the Khobar branch in 2002, with plans to expand in other markets in the very near future.
Since its inception, Saudi Finance Company specialized only in the retail sector of the auto and real estate financing.
On September 2011, Abu Dhabi Islamic Bank (ADIB) has acquired 51% of the company after an increase in the capital to SR 100 million.
Today Saudi Finance Company provides a variety of Islamic finance solutions and products for the retail consumer, High Net Worth (HNW) customers and small and medium enterprises (SME).