Emkan Finance
“Can Al Rajhi Bank's digital lending arm become the preferred Sharia-compliant consumer credit platform for Saudi Arabia by removing salary-transfer requirements and delivering fully digital financing to all bank customers?”
Emkan Finance was established as a wholly-owned subsidiary of Al Rajhi Bank (Saudi Arabia's largest Islamic bank) to operate as a dedicated consumer finance fintech under SAMA supervision. The company started with personal microfinance products (Sharia-compliant installment loans) and expanded into credit cards (U-Card with Visa) and BNPL (Pay Later for consumers and SMEs). Its strategic angle is offering fully digital, salary-transfer-free financing to all bank customers — positioning itself as the digital lending arm of the Al Rajhi Group rather than a standalone bank.