Saudi financial corps aims to expand wave to finance small businesses

Silqfi, established in Saudi Arabia, announced the launch of its new “Omni” platform, which specializes in the integration of financing services directly into the daily operations of small and medium -sized companies, following the acquisition of Oxo Company that works in the outlets. Mohamed Al -Dossary, CEO of the company, said in an interview with “Al -Sharq” that the company is aimed at facilitating trade and flowing on the “Omni” platform annually and financeing 20%, indicating that there is a focus on expansion in the Emirates, Oman and Qatar to include the Gulf in general. Al -dossary said that the gap in financing small and medium businesses in Saudi Arabia is still large as it has been estimated at about 300 billion Riyals, and he said his business attempts to provide innovative solutions to finance the small businesses faster and better, which indicates that the acquisition of ‘Oxo’ can understand and better can provide financing solutions.