Aajil provides a Sharia‑compliant instant credit line for Saudi SMEs in manufacturing, trade, and construction, allowing them to purchase materials and defer payment for 2‑12 months. The platform uses order‑based underwriting to approve credit within six hours, offers limits up to SAR 4 million, and integrates directly with suppliers for seamless procurement.
Funding
Funding not disclosed
Founders
Product
Problem
Saudi manufacturers, traders, and contractors often face cash‑flow gaps that delay material procurement, especially when traditional bank loans require lengthy approval processes and collateral. These delays can halt projects, increase costs, and limit growth for small and medium enterprises.
Solution
Aajil offers an instant, Sharia‑compliant credit line that enables qualified SMEs to purchase domestic or imported materials and defer payment for 2‑12 months. Approval decisions are generated within six hours based on a simple order‑based underwriting model, eliminating the need for complex guarantees. Credit limits of up to SAR 4 million provide sufficient purchasing power to keep projects moving without interruption. The platform automates payment scheduling and integrates with suppliers, delivering a transparent, end‑to‑end financing experience that aligns with Islamic finance principles.
Target Audience
Primary customers are Saudi small and medium‑size manufacturers, trading firms, and construction contractors that need rapid, interest‑free financing to secure materials and maintain project timelines.
Features
- Credit approval in under 6 hours using order‑based underwriting, no extensive collateral required
- Flexible repayment terms ranging from 2 to 12 months, fully compliant with Sharia law
- Credit limits up to SAR 4 million to cover both local and imported material purchases
- Integrated procurement workflow that connects directly with suppliers for seamless order fulfillment
- Transparent fee structure and real‑time dashboard for borrowers to monitor usage and repayment schedules
- Support for a wide range of industries, including construction, manufacturing, and trade