Quara Finance collaborates with Lulu Hypermarket in offering easy instalment plans for their customers
Saudi Arabia; April 6, 2022: Quara Finance, a leading Saudi company providing Sharia-compliant financial services, has signed a financing agreement partnership with Lulu Hypermarket, the retail division of the multidimensional and multinational LuLu Group International, to provide all Lulu Hypermarket customers across Saudi Arabia a quick and efficient financing solution plan for total product purchases over SAR 2,500.
The new partnership between Quara Finance and Lulu Hypermarket will allow customers to finance their Lulu purchases as high as SAR 30,000 with a flexible payment option for up to 36 months at a competitive interest rate. The deal covers all Lulu products including electronic devices, home appliances and various other home goods, provided that the purchase price is over SAR 2,500. The financing plan does not require a down payment, management fees, or a guarantor.
Ehab Hassoubah, CEO, Quara Finance, said: “Quara Finance is delighted to extend its creative products and services to Lulu Hypermarket customers. This partnership is aligned with our salient objective of improving the quality of life of the community. Along with other recent announcements, the initiative demonstrates Quara Finance’s long-term commitment to providing best-in-class financing solutions to the market leaders and the community of Saudi Arabia.”
Shehim Mohammed, Director of LuLu Hypermarkets Saudi Arabia, said: “Lulu Hypermarket is committed to offering all customers a tailored household shopping experience and to continuously meet their daily needs. We are proud of the way LuLu has grown its stores to reflect the aspirations of millennial customer in Saudi. Through our partnership with Quara Finance, our customers can get easy access to financing, allowing them to make their dream purchases through flexible payment options.”
Quara Finance is a purpose-driven financial company with a significant responsibility to creating an exceptional client experience that help generate positive social and economic impact within the Kingdom as part of the goals of Saudi Vision 2030 to improving the quality of life of residents.
Lulu Hypermarket customers can apply for the financial solution plan by completing a simple approval application form through any Lulu Hypermarket branch across the Kingdom. The complete approval process will not take more than 30-minutes.
About Quara Finance:
In May 2020, Quara Holding acquired Maalam Financing and gyrated it into Quara Finance, a future-forward company that caters to the financial needs of individuals and businesses of the digital age. Its portfolio of services includes innovative shariah-compliant financial products and solutions. Today, Quara Finance is one of the leading financial services company in the Kingdom, a first-of-its-kind that caters to individuals and SMEs alike.
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Nora Feidi | Iman Ahmed