Alraedah Finance signs an agreement with Saudi Kuwaiti Finance House

Alraedah Finance signs an agreement with Saudi Kuwaiti Finance House

Riyadh, Saudi Arabia – Alraedah Finance Company and Saudi Kuwaiti Finance House (SKFH) signed a strategic agreement to establish a closed-ended investment fund which aims to invest SAR 300 million to support small and medium-sized enterprises (SMEs) across all sectors in the Kingdom of Saudi Arabia.

Armed with this objective, CEO of Alraedah – Paul Melotto, and Mr. Dahir Al Khaldi – representing Saudi Kuwaiti Finance House, signed the investment agreement, aligning the entities with the shared goal of enhancing and empowering SMEs to further stimulate the local economy.

Under this agreement , Alraedah will be the operator of the fund’s asset, adhering to the provisions, programs, and services it provides in the field of financing and within the framework of Islamic Sharia law. Aseel Capital, represented by Mr. Khalid Al Homaid, Chief Investment Officer at Aseel Capital, will distribute part of the units of this closed-ended investment fund to individual investors through collective investment through its innovative digital platform. Aseel Capital is known for providing innovative financial solutions through the use of technology in crowdfunding, as its digital platform provides an easy and convenient way for retail investors to access mutual fund units. Aseel Capital plays an important role in enabling