Alsaif Gallery applies for consumer microfinance license

29/08/2023 Argaam
Logo ofAlSaif Stores for Development and Investment Co. (Alsaif Gallery)

Logo of AlSaif Stores for Development and Investment Co. (Alsaif Gallery)

AlSaif Stores for Development and Investment Co.’s (Alsaif Gallery) board  of directors initiated the procedures to apply for a micro-finance consumer license and  establish a financing company,  after obtaining the necessary approvals and licenses from the competent authorities.

 

The move follows Alsaif Gallery’s decision to enter large home appliances segment, the company said in  a statement to Tadawul.

 

Consumer financing will lead to increasing the company's sales of large home appliances and other products, in addition to the expected profit from financing operations.

 

Any  essential developments in this regard will be announced later, the statement added.

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