In the dynamic and ever-evolving financial landscape of Saudi Arabia, Kirnaf Finance Company has steadily emerged as one of the most influential players in corporate and commercial finance. Known for its innovative financing models, strict regulatory compliance, and commitment to supporting Saudi Vision 2030, Kirnaf Finance Company has successfully positioned itself as a trusted name in the non-banking financial industry.
Over the years, the company has built a strong reputation for financing small and medium-sized enterprises (SMEs), developing leasing solutions for production assets, and assisting corporate clients in optimising their capital structures. Operating from Riyadh—the financial hub of Saudi Arabia—Kirnaf Finance Company has transformed from a modest finance entity into a robust institution with a significant role in shaping business development and economic growth across the Kingdom.
The Origins and Early Growth
Kirnaf Finance Company was established in Riyadh with a vision to bridge the financing gap for enterprises that needed capital for growth but found limited support from traditional banks. Unlike typical financial institutions that focused mainly on consumer lending, Kirnaf targeted a more strategic and underserved market—corporate and asset-based financing.
From its inception, the company recognised that small and medium-sized businesses were the backbone of the Saudi economy. Yet, these businesses often faced obstacles in obtaining loans due to stringent banking policies or lack of collateral. Kirnaf identified this gap and introduced customised financing products that provided flexible repayment terms, equipment leasing, and working-capital solutions to such firms.
Within a short time, the company’s pragmatic approach and commitment to responsible financing helped it gain the trust of a wide range of corporate clients. As its portfolio expanded, Kirnaf Finance Company became a recognised name not only in Riyadh but across the Kingdom.
Regulatory Approval and Compliance
Kirnaf Finance Company’s credibility stems largely from its licensing and regulatory compliance under the Saudi Central Bank (SAMA). The company operates with full legal authorisation to provide specialised financing and leasing services. This approval highlights its commitment to maintaining transparency, stability, and integrity in all financial dealings.
SAMA’s regulatory oversight ensures that Kirnaf adheres to strict governance standards, risk-management frameworks, and anti-money-laundering guidelines. The company’s licence categorises it under “Other Finance Activities,” covering asset financing, SME support, and financial leasing—segments that align with the government’s national economic diversification goals.
With a paid-up capital reported at around SAR 600 million, Kirnaf Finance Company has demonstrated financial strength and long-term sustainability. It continues to publish its annual reports in accordance with international accounting standards, reflecting transparency and accountability in every aspect of its business.
Transition to Sahb Finance Company
One of the most notable recent developments is the company’s rebranding from Kirnaf Finance Company to Sahb Finance Company. This strategic transformation represents more than a mere name change—it reflects a renewed corporate identity and a broader ambition to align with the Kingdom’s evolving financial landscape.
The rebranding signifies growth, modernisation, and the company’s commitment to expanding its reach. According to its latest financial reports, Sahb Finance Company continues the same legacy of Kirnaf by focusing on asset-based and SME-oriented financing. The transition has allowed the firm to modernise its visual identity, strengthen its digital presence, and improve communication with its stakeholders, all while maintaining its strong foundation of trust.
Core Services and Financial Offerings
Kirnaf Finance Company offers a variety of specialised financial products designed for corporate clients. These include:
- Asset Financing: Helping companies acquire machinery, vehicles, and production assets through structured financing arrangements.
- Financial Leasing: Allowing businesses to use essential equipment while preserving cash flow, with an option to own the assets at the end of the lease period.
- SME Financing: Supporting small and medium-sized enterprises with tailored capital solutions for business expansion.
- Working Capital Support: Providing short-term financing to help businesses manage liquidity and day-to-day operations efficiently.
Each product is developed to meet the specific needs of enterprises operating in various sectors such as construction, logistics, manufacturing, healthcare, and retail. Kirnaf’s approach prioritises flexibility, accessibility, and Shariah-compliant structures, ensuring that clients can achieve sustainable growth without excessive debt pressure.
Commitment to Shariah Compliance
Saudi Arabia’s financial market operates within the framework of Islamic finance, and Kirnaf Finance Company has been a strong advocate of Shariah-compliant practices. The company structures its contracts in accordance with Islamic jurisprudence, avoiding interest-based transactions and focusing instead on profit-sharing and asset-backed financing models.
This commitment not only builds trust among clients but also aligns with the national financial inclusion strategy, which encourages ethical and sustainable financial solutions. Kirnaf’s dedication to Islamic finance has made it a preferred partner for businesses seeking halal financing alternatives.
Supporting Saudi Vision 2030
Kirnaf Finance Company’s mission directly contributes to Saudi Vision 2030—the Kingdom’s blueprint for economic diversification and private-sector empowerment. By financing SMEs and providing asset-based solutions, the company plays a crucial role in boosting industrial growth, innovation, and job creation.
The firm’s services empower local businesses to acquire modern equipment, expand operations, and compete regionally and globally. This contribution aligns perfectly with the national goal of reducing dependency on oil revenue and fostering a vibrant, private-sector-driven economy.
Moreover, Kirnaf Finance Company actively supports initiatives that enhance financial literacy and accessibility for Saudi entrepreneurs, helping them understand the importance of structured financing and risk management.
Financial Stability and Performance
Kirnaf Finance Company’s financial reports illustrate consistent growth and resilience. As of the most recent fiscal year, total assets stood at over SAR 390 million, while shareholders’ equity exceeded SAR 370 million. These figures demonstrate the company’s strong capital adequacy and prudent management of financial resources.
The company’s asset portfolio is diversified across various industries, minimising concentration risk and enhancing stability. Its risk-management framework emphasises due diligence, client evaluation, and conservative provisioning policies to maintain long-term solvency.
The strong financial foundation has allowed Kirnaf to weather economic fluctuations, especially during challenging periods such as the pandemic, when the company continued to provide financing to sustain business operations.
Digital Transformation and Customer Experience
In an age where technology drives financial innovation, Kirnaf Finance Company has embraced digital transformation to streamline its operations. The company’s new digital strategy focuses on automation, online application processing, and data-driven decision-making.
By adopting advanced technology solutions, Kirnaf enhances the speed and transparency of its financing processes. Clients can now access product information, submit applications, and track financing status through digital channels, making the overall experience faster and more convenient.
This digital shift also supports environmental sustainability by reducing paperwork and physical documentation, aligning with the global trend towards greener financial operations.
Governance and Corporate Responsibility
Strong corporate governance remains one of the defining features of Kirnaf Finance Company. The board of directors and executive team are composed of experienced professionals who oversee compliance, strategy, and operational excellence.
The company’s governance model ensures that all business decisions are made transparently and ethically. Internal audit systems, compliance committees, and external auditors regularly review the firm’s performance to ensure it meets SAMA’s regulatory standards.
Corporate social responsibility is another important pillar. Kirnaf Finance Company contributes to social initiatives and economic programmes that promote entrepreneurship and financial awareness among Saudi citizens. Through sponsorships, workshops, and educational programmes, it aims to build a financially literate society that can contribute effectively to the nation’s progress.
Competitive Edge in the Finance Industry
Kirnaf Finance Company differentiates itself from competitors through its focus on corporate and asset-based financing rather than consumer loans. This strategic positioning gives it a competitive advantage in serving businesses that are crucial to Saudi Arabia’s industrial expansion.
While many finance firms compete in the retail space, Kirnaf’s expertise in customised leasing and SME finance solutions allows it to maintain a niche yet powerful presence. Its flexibility, customer-centric approach, and strong regulatory foundation make it one of the most dependable finance partners in the Kingdom.
Future Outlook
Looking ahead, Kirnaf Finance Company—now operating as Sahb Finance Company—is expected to continue expanding its market footprint. The company aims to introduce more digital products, enhance automation, and strengthen partnerships with technology providers to streamline operations further.
It is also exploring sustainable finance models, such as green leasing and energy-efficiency projects, which align with Saudi Arabia’s environmental goals. These innovations could attract new categories of clients while reinforcing the company’s reputation as a forward-thinking financial institution.
As the Saudi finance sector continues to grow, Kirnaf’s experience, capital strength, and customer-focused approach will position it favourably in the competitive landscape.
Conclusion
Kirnaf Finance Company has journeyed from a promising finance start-up to one of Saudi Arabia’s most respected non-banking financial institutions. Its commitment to ethical finance, regulatory compliance, and economic development has established it as a pillar of strength in the Kingdom’s financial sector.
Through its support for SMEs, adherence to Shariah principles, and contribution to Vision 2030, Kirnaf Finance Company—now known as Sahb Finance Company—continues to drive sustainable growth and financial empowerment across Saudi Arabia.