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New with Maalem

Signing a memorandum of understanding

Signing a memorandum of understanding with Sehatak in the presence of the CEO of Maalem Finance

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Saudi Healthcare Expo

Maalem participated in the Saudi Healthcare Exhibition at the Riyadh International Conference Center.

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Our new location

Due to the expansion of our business and the steady development and in order to serve you better, we are happy to inform you of our new head quarter location.

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Maalem's Annual Ramadan Iftar

MFC’s hosted the Annual Ramadan Iftar gathering. Held in the spirit of the holy month of Ramadan. Which aims to foster the values of cooperation and communication among our employees and creating a friendly atmosphere.

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Maalem's Meetup Eid gathering 1439 H.

MFC’s hosted the Annual Eid celebration gathering for eid alfitr.

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BIBAN Al Qassim Expo

Maalem participated in the “BIBAN” Exhibition at the King Khalid Cultural Center in Buraydah. Which aims to supporting SMEs and Emerging projects to ensuring their continued growth and success within 2030 Vision.

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Saudi National Day 88th

Maalem Financing Celebrates the 88th Saudi National Day.

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Reuters: Saudi-based Maalem Financing raises 100 mln riyals in debut sukuk

Oct 16 (Reuters) - Saudi Arabia’s Maalem Financing has raised 100 million riyals ($26.6 million) from a debut sale of Islamic bonds, or sukuk, as the firm seeks to develop a crowdfunding product and expand its operations, a senior executive said on Tuesday. The sukuk from Maalem, a sharia-compliant commercial and consumer financing firm, is a small but novel deal in a market that is dominated by issuance from sovereign institutions and Islamic banks. The three-year unsubordinated deal was sold through a private placement and Maalem could tap the market again as early as January next year, said John Sandwick, a member of Maalem’s board of directors. “The program is for 500 million riyals and with 3.6 times oversubscription, there seems to be a lot of demand,” he said. Additional sales of sukuk aimed to raise between 100 million and 200 million riyals, depending on market conditions, he said, adding that Maalem may consider a dollar-denominated sukuk issuance at a later stage. The debut transaction used a structure known as murabaha, a cost-plus-profit arrangement commonly used in Saudi Arabia. The firm hoped to use an asset-backed structure for future deals, Sandwick said. Established in 2009, Maalem received regulatory approval to operate as a non-real estate finance company in 2016 and increased its capital in 2017 to 150 million riyals. The company plans to open several regional offices by the end 2018 and is awaiting regulatory approval for a crowdfunding license, Sandwick said. Crowdfunding enables start-up firms to collect small sums of money from many individuals as an alternative to bank loans. Albilad Capital, the investment banking unit of Bank Albilad, served as sole lead manager and arranger of the sukuk. ($1 = 3.7522 riyals) (Reporting by Bernardo Vizcaino; Editing by Darren Schuettler)

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MFC signs MOU with IRTI to develop solutions for financial institutions in KSA

MFC signs MOU with IRTI to develop solutions for financial institutions in KSA he Islamic Research and Training Institute (IRTI) and Maalem Financing Company (MFC) have signed a memorandum of understanding to collaborate in developing innovative products for non-bank financial institutions and the Islamic financing sector in the Kingdom of Saudi Arabia. IRTI is a member of the Islamic Development Bank (IsDB) Group responsible for knowledge creation and dissemination in Islamic economics and finance, and fostering the use of Islamic finance to contribute to the sustainable development of IsDB member countries. MFC is a Saudi-based SME and retail financing company operating on shariah principles, offering services aimed to enhance the quality of life of individuals, empower SMEs, and enable coorporates to develop their businesses. The MOU is to facilitate collaboration between IRTI and MFC in various areas of mutual interest, including products development and enhancing financial technology (fintech) presence in non-bank financial institutions and the Islamic financing sector in the kingdom. Acting Director General of IRTI, Dr. Sami Al-Suwailem, and Dr. Saleh A. Al Sayari, Chief Executive Office and Managing Director of MFC, signed the MOU on behalf of their respective institutions. In his comments, Dr. Al-Suwailem said, “IRTI is delighted to enter into this collaboration with MFC. Our cooperation will in sha Allah support the financing sector in the kingdom through developing innovative products and expanding the use of financial technology in the sector.”

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