Quara Finance Launches New Digital Personal Loan Product with Open Banking Integration – Driving Saudi FinTech Innovation

Riyadh, KSA – 10 July 2024 – Quara Finance, a leading Saudi digital micro-lender offering Shariah-compliant financial services, has launched a new digital personal loan product integrated with open banking, reinforcing its position as a pioneer in Saudi fintech innovation.

The new product enables users to apply online for personal loans with seamless verification, instant eligibility checks, and AI-driven approval, providing faster and more transparent access to financing.

With open banking integration, customers can securely connect their bank accounts, facilitating automated income verification and credit assessments, significantly reducing processing time.

Abdullah Al Shilash, Chairman of Quara Finance, said:

“This launch represents our commitment to advancing digital financial solutions in Saudi Arabia. By combining innovative technology with Shariah-compliant financing, we empower individuals with fast, secure, and accessible credit solutions.”

The new product is expected to enhance financial inclusion for both individuals and SMEs, offering flexible repayment options and personalized loan structures tailored to the unique needs of each customer.

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