Riyadh - Exclusive Sharikat Mubasher: Tayseer Finance, a leading Saudi financing company, forged a strategic partnership with the Small and Medium Enterprises General Authority (Monsha’at) to launch a financing portfolio worth SAR 3.1 billion to foster entrepreneurs and small and medium-sized enterprises (SMEs) through Monsha'at's Mazaya and Jadeer platforms.

Abdullah Alhajri, Chief Financial Officer of Tayseer Finance, told Sharikat Mubasher that the partnership, inked on the sidelines of Biban 2024, will significantly boost the financing sector in the Kingdom, especially for small enterprises.

He noted that the company provides three financing solutions to foster SMEs: Ijarah, Murabaha, and Tawaruq.

Alhajri further clarified that the company’s portfolio has been doubled compared to the past few years.

Tayseer Finance is one of the key players in the Saudi financing industry that provides Shariah-compliant digital financing products and services. In 2015, it received a license from the Saudi Central Bank (SAMA) and obtained three additional licenses in financing activities: financing productive assets, financing small and medium enterprises, and consumer finance in 2018 to expand its financing from leasing finance to all types of financing.

Biban 2024, organized by the Small and Medium Enterprises General Authority (Monsha’at), convened in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.

It targeted creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.