Aman Holding & Jarir Bookstore Launch Consumer Finance Company in KSA
The strategic partnership is organised by Raya Holding for Financial Investments.
Raya Holding for Financial Investments has announced a strategic partnership to launch a consumer finance company in Saudi Arabia. The collaboration brings together Aman Holding for Non-Banking Financial Services and Digital Payments, Jarir Bookstore, a prominent retail chain in Saudi Arabia and the GCC, and Al-Manea, a leading home appliance retailer.
The new venture aims to offer specialized financial solutions tailored to the needs of both individuals and entrepreneurs, addressing the growing demand for accessible consumer financing in the Kingdom.
This partnership marks a significant milestone for Aman as it enters the dynamic Saudi financial market, known as one of the fastest-growing in the region. By leveraging the expertise of its partners, the new company will introduce innovative financial products designed to align with the aspirations of the Saudi population and support the Kingdom’s Vision 2030 goals for economic diversification and financial inclusion.
"We are pleased with this partnership with Jarir Marketing Company, a renowned name in Saudi Arabia and the Gulf region, with a rich history and leadership in the retail sector,” Ahmed Khalil, Managing Director of Raya Holding, says. “Alongside our collaboration with Al-Manea Company, one of the largest home appliances retail chains, this partnership aims to create the largest consumer finance entity in Saudi Arabia.”
The announcement also underscores a banner year for Raya Holding, following its recent successes in securing major investments. In 2024, the company attracted $40 million from Helios Investment Partners for Raya Foods and $15 million from Africa50 for Raya Data Center.
