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  4. Our Financing Strategy

Our Financing Strategy

Our growth strategy comprises the following core components:

Individual financing
Due to the number of employees in the public sector (about 1.8 million), the Company has a high market penetration in this customer segment. Our strategically located branches cater to government employees in both civil and military sectors. As the percentage of female employees in the public sector is expected to increase, this shall lead to enhancement in our target market.

SME financing
Finance companies in Saudi Arabia have an opportunity to support the SME sector. The conducive market environment and active support of the government provide considerable opportunities to Nayifat to expand its financing portfolio to cover SMEs. We are geared to take advantage of this opportunity by expanding our SME financing portfolio through regional branches. We aim to increase our SME penetration and support the government’s efforts to develop the sector.

Credit cards
Nayifat has expanded its product range by recent introduction of credit cards. Initially offered to our existing customer base, we plan to use our marketing platform to introduce customers to the product. Product’s Unique Selling Points (USPs) include: credit cards as a free product to customers who do not want immediate financing but prefer this option to cover emergency needs; credit cards as a financing product to customers who want short-term financing at a lower cost than for other products.

Digital Innovation
Apart from maintaining a sizeable branch network of twenty-five (25) branches, Nayifat is all geared to expand and transform in the digital space by augmenting web and application based solutions for customer acquisition as well as customer support. Our upcoming credit card product offers a web portal where customers can presently view their transactions, balances etc. These initiatives shall help enhance customer convenience and shall also reduce operational costs of the company leading to lean and efficient operations.