The report covers KSA Consume Finance Sector, KSA Consumer Finance Future, KSA Consumer Finance Licensing Requirements, KSA Consumer Finance Market Future Growth, KSA Consumer Finance Players, KSA Finance Market, KSA Personal Finance Industry Challenges, KSA Personal Finance Industry Issues, KSA Personal Finance Market, KSA Personal Finance Market Demand, KSA Personal Finance Market Future Outlook, KSA Personal Finance Market Trends, KSA Personal Finance Market Growth Strategies, KSA Personal Finance Market Key Competitors, KSA Personal Finance Market Key Players, KSA Personal Loan Industry, KSA Personal Credit Market, KSA Personal Loan Sector, Currency Industry , Retail Finance Sector in Saudi Arabia, Retail Currency Sector, Consumer Finance Sector in Saudi Arabia, Retail Finance Market in Saudi Arabia.
Gurugram, India, Jan. 17, 2023 (GLOBE NEWSWIRE) — The KSA Personal Finance Market is in a period of growth, driven by advances in technology and digitization in personal finance. Banks dominate the supply side of the KSA personal finance ecosystem, however, the emerging non-bank financial firms and FinTech companies are expected to create stiff competition in the market.
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Due to the shift in emphasis towards home ownership in Saudi Arabia Vision 2030 Project, The renovation and home improvement segment is expected to grow, which could support the personal finance market in the country.
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Major players in the personal finance market include Al Rajhi and SNB, followed by Emirates NBD and Banque Saudi Fransi. Non-banks in the market include Nayifat Finance Company and Emkan Finance Company.
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The population of employed women in KSA is on an increasing trend and is expected to lead to the growth of the market, thereby positively impacting the KSA personal finance market.
Future of KSA Personal Finance Market: the KSA Personal Finance Industry is expected to grow at a robust CAGR. Outstanding personal loans are expected to grow over the next four years. Wedding loans are expected to account for the largest share of renovation and home improvement loans, mainly driven by Saudi Arabia’s Vision 2030. Due to increasing privatization and the goal to include privatization in Vision 2030, the number of employed workers is expected to increase and the number of employed persons in the public sector is also expected to decrease.
Entry of new players into the market: New players entering the KSA Personal Finance Market are FinTech companies. The country currently has 82 FinTech companies and the number of these companies is expected to grow rapidly in the coming years. The market has seen partnerships between FinTech companies and decision analysis firms to make their digital lending process more robust. Strict policy changes related to bankruptcy and other parameters can be observed for new entrants.
Government policy: The KSA government’s Vision 2030 has massive plans for the economy aimed at improving employment figures, which could also be fruitful for the personal finance market. Borrowing by large corporations and the private sector is expected to increase, largely due to increased privatization as one of the Vision 2030 targets. KSA’s Vision 2030 includes the Financial Sector Development Program, which provides for greater access to financial products and aims to increase the proportion of non-cash transactions through the development of digital infrastructure. The program also focuses on empowering FinTechs to drive innovation and competition. FinTech companies are expected to make immense contributions to the growth of the market.
The report “Market Outlook for KSA Personal Finance to 2026F – Driven by increasing digitization and increased consumer demand” from Ken Research provides a comprehensive analysis of the potential of the Personal Finance industry in KSA. The report also includes the industry overview and emergence, market size in terms of outstanding loans and number of loans; Market segmentation by loan purpose, supplier, loan term, transaction type, geography, borrower nationality, borrower employment; Growth enablers and drivers, challenges and bottlenecks, trends driving digital adoption; Legal framework; Industry analysis, competitive landscape including competitive scenario, key players market shares based on outstanding credit standing. The report concludes with future market forecasts for each segmentation and analyst recommendations.
Key Segments Covered:-
KSA Personal Finance Market
By loan purpose
from Offerer
from term of the loan
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< 1 year
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1-2 years
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2-3 years
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3-4 years
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4-5 years
from booking mode
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from Geography
By nationality of the borrower
By employing the borrower
Main target group:-
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Period covered in the report:-
Covered Companies:-
banks
non-banks
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Nayifat Finance Company
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Emkan Finance Company (owned by Al Rajhi Bank)
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Murabaha Marena Finance Company
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United Financial Services Society (Tasheel Finance)
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Al Yusr Leasing & Financing
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Al-Amthal Finance Company
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Tamam
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Quara Finance Company
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Tayseer Finance
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Saudi Finance Company (acquired by Abu Dhabi Islamic Bank)
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Abdul Latif Jameel United Finance Company
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Osoul Modern Finance Company
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Matag finance company
Key Topics Covered in the Report:-
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KSA Personal Finance Market Overview
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Ecosystem of the KSA Personal Finance Market
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Development of KSA’s Personal Finance branch
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KSA Personal Finance Market Size, 2017-2021
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KSA Personal Finance Market Segmentation, 2021 (By Loan Purpose, By Vendor, By Booking Mode, By Loan Term, By Geography, By Borrower Nationality, By Borrower Employment)
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Industry Analysis of KSA Personal Finance Services
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KSA Personal Finance value chain
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Key Growth Drivers in Personal Finance Market in KSA
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Trends and developments in KSA’s personal finance industry
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SWOT Analysis of Personal Finance Industry by KSA
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Islamic Funding
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Issues and Challenges in KSA’s Personal Finance Industry
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Government policies affecting the KSA Personal Finance Industry
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Competitive Framework for the KSA Personal Finance Market
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KSA Auto Finance Market Future Prospects and Forecasts, 2021-2026F
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Market Opportunities and Analyst Recommendations
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research methodology
For more insights into market intelligencesee link below:-
KSA Personal Finance Market
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CONTACT: Contact Us:- Ken Research Private Limited Ankur Gupta, Director Strategy and Growth [email protected] +91-9015378249
