- Preliminary approval from the Saudi Central Bank (SAMA) to establish Rafed Integrated Company for micro consumer finance.
- Company capital is set at SAR 50 million through a partnership between Jarir Marketing, Aman Egypt, and Al-Manea Company.
The approval is not a final license and does not yet allow the company to start financing activities.
Jarir Marketing Company announced that it has received preliminary approval from Saudi Central Bank (SAMA) to establish Rafed Integrated Company, which will operate in the micro consumer finance sector, with a capital of SAR 50 million.
In a statement published on the Saudi Exchange (Tadawul), the company clarified that Rafed Integrated Company is the same entity previously covered under a non-binding memorandum of understanding signed earlier with:
Aman for Non-Banking Financial Services and Electronic Payments (Aman Egypt)
Hamad bin Abdullah bin Sulaiman Al‑Manea & Partners
Jarir stated that regulatory procedures to formally establish Rafed are currently in progress, emphasizing that SAMA’s preliminary approval does not constitute a final license and does not permit the company to commence financing operations at this stage.
According to previously disclosed information, Jarir signed a non-binding MoU in December 2024 with Aman Egypt to establish a consumer finance company, reflecting its strategic expansion into the financial services sector.
Ownership Structure of Rafed Integrated Company
Jarir Marketing Company: 49%
Aman Egypt: 41%
Al-Manea & Partners: 10%
This move aligns with the ongoing growth of the micro consumer finance sector in Saudi Arabia and supports the diversification of financial services available to individuals.
