Dinar

CMA-licensed Saudi platform offering Sharia-compliant sukuk, funds and savings products to investors and business financing of up to SAR 30 million.

Industry: Fintech - debt crowdfunding and investment | Location: Riyadh, Saudi Arabia

About Dinar

Dinar (دينار) is a Saudi financial technology company that offers Sharia-compliant investment products to individuals and financing to businesses. The company states that it is licensed by the Capital Market Authority to carry out arranging, investment management and fund operation, custody, dealing and advisory activities, and that its products are reviewed by an independent Sharia committee.

On the investor side, Dinar offers a mobile app with four product groups. Funds span private equity, financing and real estate. Sukuk finance companies across more than 18 sectors, and the company says it targets a return above 16 percent a year. Cash Dinar is a Sharia-compliant savings deposit with a targeted annual return of more than 5 percent. The Dinar Saudi Equity Fund is described as managed by Morgan Stanley experts. These return figures are targets stated by the company, not guaranteed results.

On the financing side, businesses can apply for working capital, invoice financing, expansion and third-party project financing, as well as real estate development, bridge and land development financing. Dinar says financing reaches SAR 30 million, with terms up to four years, a credit review within three working days and disbursement within seven working days. It says the total value of financing programmes has exceeded SAR 4 billion. The platform issues sukuk through special purpose entities and makes them available to retail investors; the logos of Bank AlJazira and Alinma Bank appear on the financing page.

The board is chaired by Abdulrahman bin Abdulaziz bin Sulaiman, who is chief executive of National Gas and Industrialization Company. Other directors named include Abdulaziz bin Mutaib Al-Rashid, Abdullah bin Saleh Al-Hamid of GIB Capital, Hamdan bin Yousef Al-Hamdan and Badr bin Fawzan Al-Fahad. The Sharia committee is chaired by Prof. Yousef bin Abdullah Al-Shubaili.

Leadership