Riyadh - Sharikat Mubasher: Alsulaiman Group, one of Saudi Arabia’s leading family-owned conglomerates, successfully acquired Taajeer Finance Company in a move to lead digital transformation and drive the growth of financial services in the Kingdom.
This acquisition represents a significant move in Alsulaiman Group’s official entry into the Saudi financial services sector, in alignment with the Financial Sector Development Program under Vision 2030, the group stated in a press release yesterday.
Through this acquisition, Alsulaiman Group aims to create a fully integrated and innovative financial ecosystem, leveraging its strengths in retail and digital transformation to deliver customer-centric financial solutions that will support national economic growth.
Saud Alsulaiman, CEO of Alsulaiman Group, stated that the acquisition of Taajeer Finance reflects the group’s belief in the financial sector’s potential for innovation and growth. “We aim to build a modern financing platform that delivers accessible, efficient, and smart solutions, empowering individuals and entrepreneurs, while also contributing to the Kingdom’s Vision 2030 goals."
For his part, Faisal Malaeka, Chairman of the Board at Taajeer Finance, commented: “Today, we embark on a new chapter of inclusive growth through our partnership with Alsulaiman Group. We are confident that this alliance will bring a qualitative leap in service and financial innovation in the Saudi market.”
Moreover, the acquisition strengthens Alsulaiman Group’s diversified investment portfolio, which includes sectors such as retail, logistics, and real estate development, and underscores its commitment to innovation and sustainable growth.
