Riyadh – Exclusive Sharikat Mubasher: Abdullah Al-Anzi, Senior Corporate Relations Manager at Mudaraba Financial Company, said that the platform is licensed by the Saudi Capital Market Authority (CMA), and its main goal is to finance small and medium-sized companies that have government contracts.
In an interview held on the sidelines of Biban 2024, Al-Anzi noted that Mudaraba provides financing opportunities to help companies implement their contracts and projects and investment opportunities for individuals who wish to invest their financial surpluses.
Regarding the procedures for granting financing through Mudaraba, Al-Anzi explained that the platform conducts a credit, financial, and technical study of the project being financed and then gives approval for it. Then, the project is offered for subscription in bonds with a nominal value of SAR 1,000/bond.
He pointed out that after the subscription is closed, the financing is directed to the companies with returns ranging from 12 to 15% depending on the agreed financing period, as the company offers financing periods of 3 months, 6 months and 9 months.
Biban 2024, organized by the Small and Medium Enterprises General Authority (Monsha’at), takes place in Riyadh from 5 to 9 November, with the participation of more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.
It targets creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.
