Characteristics of our financing products include:

  • Asset backed financing where we take security against all funding contracts;
  • Midterm tenures where our contracts range between 1 and 5 years;
  • Flexible repayment plans, which could be monthly, quarterly or customized options, depending on our clients’ requirements;
  • Our target deal size is between SR 1 million and SR 15 million; however, we will fund larger deals, depending on the specific deal, and client; and
  • All the terms of our deals are negotiable to meet the needs of our clients.

Murabaha Contracts

Kirnaf offers clients working capital financing and cash flow financing to support our clients’ operations. We provide this funding under Shariah compliant Murabaha Contracts where our clients provide tangible collateral against the promise to repay the contract over the tenure of our contract. The collateral must be transferred into Kirnaf’s name.

Ijarah Contracts

Kirnaf offers our clients a Shariah Compliant leasing product under our Ijarah Contracts. Kirnaf will acquire tangible assets desired by our clients and then lease these assets to our clients. The assets remain under Kirnaf’s ownership until that time when the client has repaid the contract in full.