Raya Holding’s Aman Group Secures Initial SAMA Approval to Launch Consumer Microfinance Company in Saudi Arabia
Raya Holding for Financial Investments announced that Aman Holding, its subsidiary in which it owns a 76% stake, has obtained initial approval from the Saudi Central Bank (SAMA) to establish a company specializing in consumer microfinance in the Kingdom of Saudi Arabia.
In a disclosure to the Egyptian Exchange (EGX), Raya stated that the approval comes within the framework of a non-binding memorandum of understanding signed between Aman Holding and Jarir Marketing Company, one of the largest retail groups in Saudi Arabia and the Gulf region. The proposed company is set to be established with an initial capital of SAR 50 million.
According to the proposed ownership structure, Aman Holding will own 41% of the new company’s capital, while Jarir Marketing will hold 49%, with the remaining 10% allocated to Hamad bin Abdullah bin Sulaiman Al-Manea & Partners, a closed Saudi joint-stock company.
Raya clarified that the initial approval granted by SAMA does not constitute a final license or authorization to commence operations, noting that the launch of financing activities remains subject to fulfilling all regulatory requirements and obtaining final approvals.
The company added that it will disclose any material developments related to the project in due course, in accordance with applicable rules and regulations.
It is worth noting that Raya Holding reported a 39.5% year-on-year increase in consolidated net profits, reaching EGP 1.779 billion during the first nine months of 2025, compared to EGP 1.275 billion in the same period last year, after accounting for minority interests.