Khaled Alsharif, CEO of Abdul Latif Jameel Finance, speaking to Argaam during the Money 20/20 Middle East Conference held in Riyadh
Khaled Alsharif, CEO of Abdul Latif Jameel United Finance Co. (ALJ Finance), said interest rates are among the key factors influencing finance products, expecting demand for cash financing to pick up in the coming period — a trend seen to be reflected in higher interest rates and affect these borrowing instruments in general.
Speaking to Argaam on the sidelines of the Money 20/20 Middle East Conference held in Riyadh, the top executive highlighted that Saudi Arabia’s mega projects are fueling extra demand for liquidity, which cushions the impact of rate cuts.
Looking ahead, Al-Sharif predicted a slight rise in interest rates, depending on supply and demand.
Abdul Latif Jameel Finance’s performance is on the rise, thanks to its customer selection systems, communication, and after-sales services, he added, noting that the Saudi financing provider’s annual results keep growing, with ambitious goals set for 2030.
The CEO also highlighted that the microfinance segment has so far provided loans worth SAR 4 billion, targeting SAR 10 billion for around 400,000 beneficiaries by 2030.
As for the potential listing on the Saudi Exchange (Tadawul), Alsharif said the focus is currently on customer service, digital transformation, and open banking, adding that the company may consider going public in the future.
Abdul Latif Jameel Finance, founded in 1960 as a unit of Abdul Latif Jameel Co. Ltd., is deemed one of the largest finance players in Saudi Arabia. It offers an array of products that include cash financing, auto financing, as well as financing for SMEs and microfinance, he added.
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