Tamam is a fully digital, Sharia‑compliant financing platform that offers instant approval loans up to SAR 60,000 and digital installment plans up to SAR 25,000 for purchases from partnered merchants. Users apply through the mobile app, receive a financing decision within minutes, and can choose repayment schedules of up to 24 months without interest. The service is overseen by qualified Islamic scholars to ensure all products adhere to Islamic finance principles.
Funding
Funding not disclosed
Founders
Product
Problem
Many individuals in Saudi Arabia and expatriates lack quick, accessible financing options that align with Islamic Sharia principles, especially for amounts up to tens of thousands of riyals. Traditional loan processes can be slow, require extensive paperwork, and may not be available to all salary levels.
Solution
Tamam provides a fully digital financing platform that delivers instant approval loans of up to SAR 60,000 for personal needs and digital installment plans of up to SAR 25,000 for purchases from partnered merchants. Users download the Tamam app, create an account, and receive a financing decision within minutes, selecting a repayment schedule that fits their cash flow. The service is Sharia‑compliant, overseen by a board of qualified scholars who audit the products to ensure adherence to Islamic finance rules. For installment purchases, Tamam partners with telecom, travel, education, and furniture providers, allowing customers to spread payments over up to 24 months without interest. All transactions are managed through the app, with automated repayment tracking and customer support via call‑back requests.
Target Audience
The primary customers are Saudi and expatriate employees in the private and government sectors who meet the minimum salary criteria and seek quick, Sharia‑compliant financing for personal expenses or merchant purchases.
Features
- Instant digital approval for loans up to SAR 60,000 with flexible repayment terms
- Sharia‑compliant financing reviewed regularly by certified Islamic scholars
- Digital installment option for purchases up to SAR 25,000, tenure up to 24 months
- Integrated merchant network covering telecom, travel, education, and furniture sectors
- End‑to‑end mobile experience: account creation, application, and repayment tracking within the app
- Minimum salary eligibility: SAR 4,000 for Saudi nationals, SAR 5,000 for non‑Saudis
- Direct customer support via scheduled call‑back for inquiries and assistance