Gulf Finance Saudi Arabia, a provider of Shariah-compliant lease and installment facilities to small businesses, has opened its new head office and branch in Jeddah, marking three years of operations in the Kingdom.

The company first established a presence in Jeddah in 2012 and expanded into the Central Region with a new branch in Riyadh in 2015. Gulf Finance currently employs over 40 staff members, of which 60 per cent are local Saudi employees.

It has over 200 clients in a range of sectors such as contracting, manufacturing, industrial, property, logistics and retail and has successfully grown its asset book to over SR200 million ($53.2 million) as of December 31, 2015.

Thamer Jan, chairman of the Board of Directors, Gulf Finance Saudi Arabia, said: “Our new office in Jeddah extends our reach in Saudi Arabia and allows us to penetrate further into the SME fabric, where small businesses are estimated to account for 90 per cent of registered business and 60 per cent of employment.”

“With a sizeable SME market and the government’s ambitious policies of diversifying its private sector, there is an increasing need for Sharia compliant lending. We are excited about our strategic investment The Kingdom and look forward to offering our customers a more efficient and competitive financing solutions,” he added. – TradeArabia News Service