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Associated Companies
Yanal, the first finance leasing company of its kind in the Kingdom, was incorporated on January 16, 2001 as a closed joint stock company with a mandate to provide medium term asset financing to all productive sectors of the economy with particular emphasis to serving the needs of small to medium size enterprises and thereby, assist in extending and expanding the credit delivery mechanism in the Kingdom.
Yanal operates under commercial registration No. 1010163957 issued in Riyadh on 21 Shawal, 1421 H (corresponding to 16 January 2001), issued by the Ministry of Commerce and Industry and Finance company license number 7/A Sh/201403 dated 27/04/1435H (corresponding to 27 February 2014) issued by Saudi Arabian Monetary Authority (“SAMA”), through its five branches (2015: five branches) in the Kingdom of Saudi Arabia.
OLP’s second overseas joint venture leasing company is SAMAA Finance SAE (formerly, ORIX Leasing Egypt SAE). The company is a joint venture between ORIX Corporation, Japan, OLP Financial Services Pakistan Limited (formerly, ORIX Leasing Pakistan Limited), International Finance Corporation, National Bank of Egypt and Commercial International Investment Company. SAMAA Finance started operation in November 1997 with a paid up capital of 20 million Egyptian Pounds (Pak Rs. 300 million) and has established a good business base. The ORIX Group provides technical and managerial support to SAMAA Finance.
The company continues to focus on the needs of small and medium-sized business, which enables it to diversify risk and earn good spreads.