Logo of Jarir Marketing Co.
Hossam Hussein, Chief Financial Officer (CFO) for Financial Investments at Egypt's Raya Holding Co., said the consumer finance company in Saudi Arabia will be launched in partnership with Jarir Marketing Co. and Al-Manea Trading Co. under the Aman brand, during Q4 2025, or Q1 2026 maximum.
In an interview with Al Arabiya TV, Hussein explained that the company is expanding across the Gulf region in general and in Saudi Arabia in particular, with plans to strengthen its presence in the Saudi market.
Raya currently operates through contact centers in Riyadh, Khobar, and Dammam, in addition to expanding in the IT sector by providing digital transformation solutions and establishing data centers.
In December 2024, Jarir signed a non-binding memorandum of understanding (MoU) with Aman Non-Bank Financial Services and Electronic Payments Co. (Aman Egypt) to establish a consumer finance company, with an initial capital of SAR 100 million, according to Argaam data.
Jarir will own 49% of the new entity, while Aman Egypt will hold a 41% stake. Hamad bin Abdullah bin Suleiman Al-Manaya & Co., a Saudi closed joint stock company, will own the remaining 10%.
