Kafala Program

The “Kafala" Program continued its distinctive role in supporting small and medium-sized enterprises (SMEs) in the Kingdom of Saudi Arabia, as we believe in the key role this sector plays in serving and developing the business, expanding the beneficiaries’ base, and creating new job opportunities that contribute in reducing unemployment in the Kingdom. BANK ALJAZIRA is one of the first banks that have signed a partnership agreement with the Program, in order to encourage the SMEs that possess the success factors, but cannot provide the necessary guarantee or accounting records to obtain finance.

Program’s Objectives

Assist the SMEs in obtaining the necessary Islamic finance for the development and expansion of its activities
Encourage the financial institutions to deal with the SMEs Sector
Attract a new segment of owners that are not used to dealing with financiers
Develop and promote the SMEs Sector; in order to achieve its important role in the national economy
Contribute in providing new job opportunities using the least amount of capital
Develop the less economically active governorates
Provide training programs to help the small and medium-sized enterprises’ owners
Inform and educate the small and medium-sized enterprises owners through seminars and forums

Credit Facilities guaranteed by the Program

The Program guarantees almost all types of Credit Facilities granted by the financiers to the small or medium-sized enterprise, in accordance with the legitimate finance forms accredited at Bank AlJazira.

Documents required for issuing the Guarantee:

A copy of the National ID / Residence Permit (Iqama)
A copy of the activity license
A copy of the commercial register
A copy of the Company’s Article of Association (if the enterprise is a company)
A copy of the lease or ownership contract for the activity practice head office
An economic feasibility study for the activity (for the new projects)
A copy of the audited financial statements for three years (for the existing projects)
A facilities request data form
A copy of the ownership documents (real estates, vehicles, etc.)
Any other documents required by the Bank

For more information, please contact us via toll free number 800 244 9090, or you may request a meeting or call with a Relationship Manager

Bank AlJazira, A Saudi Joint Stock Company, Fully paid capital SAR 8,200,000,000, Commercial Registration No: 4030010523, Head office: Jeddah – Saudi Arabia, P.O. Box 6277
Jeddah 21442 Telephone: +966 12 609 8888 – Fax +966 12 609 8881, National Address: Bank AlJazira – King Abdulaziz Branch Rd – Ash Shati District Building No. 7724
Zip code 23513, Additional No. 3551, unit No.1 Website: www.baj.com.sa, Bank AlJazira is under the supervision of Saudi Central Bank