The Saudi Company for the Registration of Financial Lease Contracts “Sajeel” in Riyadh yesterday launched its services and its official identity, the company in Riyadh, and 43 banks and finance companies participated in the establishment of the company, and registered more than 140 thousand financing contracts during the past period, and the company aims to complete the financial lease system in the finance sector in the Kingdom, and address the challenges in the financial lease market by enhancing the permeability of contracts and ensuring transparency, to comply with the Kingdom's vision 2030 and contribute to the targets of the financial sector development program and housing program.

The company aims to complete the financing lease system in the finance sector in the Kingdom, and address the challenges in the financial lease market by enhancing contract permeability and ensuring transparency.

During the launch ceremony, Dr. Fahad Al-Shathri, Deputy Governor of the Saudi Arabian Monetary Authority (SAMA), confirmed that the financial lease contracts for vehicles and real estate are all standardized, noting that the launch of “Sajjed” is one of the initiatives of the developing financial lease system. Al-Shathri explained that there is a great focus on the vehicle and real estate sector, pointing out that they aspire to serve small and medium enterprises.

The launch ceremony of the Saudi Company for the Registration of Financial Leases (Sajeel) was launched under the patronage of Dr. Ahmed Al-Khulaifi, Governor of the Saudi Arabian Monetary Agency (SAMA), in the presence of the Minister of Housing Majid Al-Hogail and a number of senior officials in the Ministry and SAMA.