Aljazira Capital Partners with ATEL Capital Group and Guidance Investments to Launch Ijarah – A Shariah-Compliant Leasing Venture in Saudi Arabia

Aljazira Capital, a leading Saudi investment firm and subsidiary of Bank Aljazira, has entered a strategic partnership with ATEL Capital Group and Guidance Investments to launch, Ijarah, a groundbreaking Shariah-compliant operating lease business for essential equipment in Saudi Arabia. This joint venture aims to offer corporate clients innovative, Shariah-compliant leasing solutions, addressing the growing demand for flexible financing options in key economic sectors across the Kingdom.

ATEL Capital Group, a prominent U.S.-based lessor with over 47 years of experience and a multi-billion-dollar equipment portfolio, brings expertise in leasing low tech equipment to Fortune 500 companies. Guidance Investments, part of the Capital Guidance Group with more than 50 years of operational history in the Middle East, contributes specialized investment and financing expertise to the partnership. Together, the partners are set to drive value for qualified businesses across Saudi Arabia by providing essential equipment leasing solutions through Ijarah.

Through this partnership, Aljazira Capital seeks to expand the local private markets industry by introducing a new asset class that generates steady income, offering investors a unique opportunity to diversify their Shariah compliant portfolios within Saudi Arabia.

Naif Almesned, CEO & Managing Director of Aljazira Capital, expressed enthusiasm for the partnership: “By joining forces with ATEL Capital Group and Guidance Investments, we’re positioned to leverage our collective strengths and capitalize on Saudi Arabia’s dynamic economic growth. This initiative, launched during the week of Future Investment Initiative 8th Edition conference in Riyadh, is a testament to our commitment to Saudi Vision 2030. Through "Ijarah" we are focused on fostering economic diversification, promoting sustainable growth, and providing the Kingdom with innovative, Shariah-compliant financial solutions."

Commenting on the joint venture, Dean Cash, Chairman and CEO of ATEL Capital Group, said, “We are thrilled to bring our decades of expertise in equipment leasing to Saudi Arabia through our collaboration with Aljazira Capital and Guidance Investments. Launching "Ijarah" represents a unique opportunity to support the Kingdom’s ambitious economic goals, offering Shariah-compliant operating lease solutions that align with ATEL’s mission to foster sustainable growth in international markets. We look forward to meeting the needs of businesses across Saudi Arabia and continuing our long-term presence in the region.”

Mohamad Hammour, Chairman of Guidance Investments, also shared his perspective: “Our partnership with Aljazira Capital and ATEL Capital Group marks an important milestone in advancing Shariah-compliant financing in the Middle East. We are committed to providing tailored investment solutions that drive growth and align with the core values of our clients. "Ijarah" not only supports Saudi Vision 2030 but also reflects our dedication to expanding access to diversified, Shariah-compliant investment options in the region. We are excited to contribute our knowledge and experience to this exciting venture.”