Aman Holding and Jarir Secure SAMA Preliminary Approval for SAR 50 Million Consumer Microfinance JV
RIYADH — Aman Holding, a Raya Holding subsidiary, and Jarir Marketing Company announced preliminary approval from the Saudi Arabian Monetary Authority (SAMA) to establish a consumer microfinance joint venture with SAR 50 million in initial capital. The partnership, which includes Hamad Bin Abdullah Bin Sulaiman Al Manea and Partners Trading Company, aims to provide specialized financing services in Saudi Arabia, advancing a non-binding memorandum of understanding signed in January 2025.
Announcement Specifics
The joint venture structure allocates 49% ownership to Jarir Marketing Company, 41% to Aman Holding, and 10% to Al Manea partners. Initial capital stands at SAR 50 million, reduced from the SAR 100 million outlined in the original MoU.
A bourse filing emphasized that “SAMA’s preliminary nod does not represent a final license to begin financing activities.” The preliminary approval marks regulatory progress while underscoring SAMA’s oversight requirements before the JV can commence operations.
Why it matters: This statement clarifies that additional regulatory milestones remain before the partnership can launch consumer financing services, highlighting the rigor of Saudi Arabia’s fintech licensing framework.
Industry Context
Saudi Arabia’s consumer finance sector is expanding rapidly amid Vision 2030’s emphasis on financial inclusion and digital economy growth. Jarir, a leading retailer of books, electronics, and consumer goods, brings extensive customer reach across the Kingdom. Aman Holding contributes proven fintech expertise from Egypt, where it manages e-payments, installment solutions, and microfinance operations.
The joint venture positions both companies to capture rising demand for buy-now-pay-later products and microloans, leveraging Jarir’s retail footprint for point-of-sale financing. The partnership bridges Egyptian fintech innovation with Saudi retail infrastructure, fostering cross-Gulf collaboration and bolstering Aman’s regional presence, which already spans the UAE and other markets.
Outlook
Upon receiving final SAMA approval, the joint venture is expected to enhance consumer access to microfinance, driving financial inclusion and transaction growth in Saudi Arabia. The partners are focused on securing the full license to commence financing activities, with operations contingent on meeting regulatory requirements.
Sources: Zawya, Zawya, Lucidity Insights
