Tadhamon Bank

What Tadhamon Bank does

Tadhamon Bank is Yemen's largest Islamic bank, founded in 1996 under the Islamic Banks Law and headquartered in Sana'a with a registered presence in Aden. It provides a full suite of Sharia-compliant banking services including current and savings accounts, Islamic investment deposits, Murabaha-based personal, housing, and car financing, corporate finance, international trade services (letters of credit, documentary credits), and digital banking through Tadhamon Mobile, internet banking, and SMS channels. The bank operates 37 branches and offices across Yemen, a 24/7 ATM network with cardless withdrawal capability, and a 3,000+ point Tadhamon Pay remittance distribution network that receives inbound transfers from Saudi Arabia through partnerships with Al-Bilad Bank (Injaz), Al-Ahli Bank (Quick Pay), Saudi Post (Ersal), Bin Yaala Exchange, and Send Money Transfer Company. Notable technology components include an AI-powered chatbot and voicebot (Tadhamon Tawasol) on WhatsApp/Web/Messenger, ISO/IEC 27001:2022-certified information security, SWIFT GPI for international payments (first in Yemen and 14th in the Middle East), 3D Secure for online cards (first in Yemen), and the Mahfathati electronic payment service supporting merchant and salary disbursements.

Revenue is generated through profit margins on Islamic financing arrangements, transaction fees on remittances and digital banking, and trade finance fees. Profit is distributed to depositors at rates published annually — for 2019, 9.15% on continuous local currency deposits and 5.14% on local currency savings. Customer segments span individual retail depositors, SMEs (including women entrepreneurs through the Brave Women project), corporate clients (including Hayel Saeed Anam Group companies), Yemeni expatriates in Saudi Arabia, and humanitarian organizations. The bank also operates three wholly-owned subsidiaries: Tadhamon Microfinance (14 branches across 9 governorates, established 2006), Tadhamon Real Estate Co. Ltd (established 2008), and Tadhamon Capital, the investment arm based in Manama, Bahrain. The bank is privately held by the Hayel Saeed family and led by Founder Abdul-Jabbar Hayel Saeed Anam, Chairman Shawqi Ahmed Hayel, and General Manager Mahmoud Atta Al-Rifai.

Name

Tadhamon Bank

Legal name

Tadhamon International Islamic Bank

Website

https://tadhamonbank.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

101–250 employees

Short description

Tadhamon Bank is Yemen's largest Islamic bank, providing Sharia-compliant retail, corporate, and SME banking, Murabaha financing, and remittance services to individuals, businesses, and Yemeni expatriates through 37 branches and 3,000+ service points.

Ownership category

akta.pro rank

Product category

Islamic Banking

NAICS

Commercial Banking (522110), Savings Institutions and Other Depository Credit Intermediation (52218)

SIC

National Commercial Banks (6021)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic Corporate Banking (FSABAGAC), Islamic SME & Commercial Banking (FSABAGAB), Islamic Trade Finance & Supply Chain (Shariah-compliant) (FSABAGAE), Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic banking services
• Sharia-compliant financing
• Retail banking
• Corporate banking
• Remittance services

Headquarters

HQ city

Aden

HQ country

Yemen

HQ region

Middle East

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Islamic Financing (Murabaha): The bank provides Islamic financing services through Islamic Murabaha formulas. This includes personal financing, housing finance, and car financing. Revenue is generated through profit margins on financing arrangements.
2. Customer Deposits and Investment Accounts: The bank accepts customer deposits and investment accounts, distributing profits to depositors. For 2019, distributed 12.3 billion YER in deposit profits. The bank maintains the largest volume of deposits in Yemen's banking sector.
3. Electronic Banking Services: Revenue from internet banking, mobile banking, SMS banking, and card services including ATM, prepaid Visa, and internet cards.
4. Tadhamon Pay Express Transfers: Fast remittance service enabling expatriates to send money from Saudi Arabia to Yemen. The bank partners with Saudi banks (Al-Bilad Bank, Al-Ahli Bank) and exchange companies, earning fees on each transaction.
5. Mahfathati E-Payment Service: Electronic payment service for merchants enabling receipt of payments, salary disbursements, and bill payments with transaction fees.
6. Corporate and Trade Finance: Services including international trade (letters of credit, documentary credits), corporate finance, and current accounts for business customers.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Tadhamon Bank is a Sharia-compliant Islamic bank in Yemen offering current accounts, savings accounts, Islamic deposits, and Murabaha-based personal, housing, and car financing for individuals, alongside corporate banking, international trade finance, and cash management for businesses. The bank also operates a nationwide remittance and digital payments ecosystem through the Tadhamon Pay agent network and the Mahfathati e-wallet, complemented by mobile, internet, and SMS banking channels and 37 physical branches.

Product overview

Tadhamon Bank is an Islamic bank in Yemen offering a comprehensive digital banking platform with multiple delivery channels and products. The core offering consists of mobile banking (Tadhamon Mobile), internet banking, and SMS services accessible 24/7. The bank provides express money transfers through Tadhamon Pay with over 3,000 service points, and electronic payments via Mahfathati e-wallet. Physical delivery includes 37 branches, call center (8001010), and ATM network. Additional services include prepaid/ATM/internet Visa cards, personal/housing/car financing, corporate banking, international trade services, and CRM. The bank also operates subsidiaries for microfinance, real estate development, and investment management (Tadhamon Capital in Bahrain). Recent additions include AI-powered chatbot and voicebot on WhatsApp, Web and Messenger channels.

Differentiator

Problem solved

Functional benefit

Brands

• Tadhamon Pay: Fast remittance service for Yemeni expatriates, enabling money transfers from Saudi Arabia to Yemen through multiple services including Quick Pay, Enjaz, Ersal, and Bin Yaala Exchange
• Tadhamon Mobile
• Mahfathati
• Tadhamon Window
• Madhmon
• Tadhamon Call Center
• Tadhamon Internet Card
• Tadhamon Visa Prepaid Card

Products and services

• Current Account Sharia-compliant current account for individuals and businesses, offered since the bank's founding in 1996.
• Savings Account Islamic savings account for individuals, with profit distribution rather than interest.
• Islamic Deposits Sharia-compliant deposit accounts with profit distribution, available in continuous and fixed-term tenors for local and foreign currency.
• Tadhamon Personal Financing Sharia-compliant personal financing for individuals using Islamic Murabaha formulas.
• Tadhamon Housing Finance Sharia-compliant home financing product for individuals.
• Tadhamon Car Finance Sharia-compliant vehicle financing product for individuals.
• Corporate Finance Corporate banking and Islamic financing services for businesses in Yemen.
• International Trade Services Trade finance and international banking services, including letters of credit and documentary credits.
• Tadhamon Mobile Mobile banking application enabling customers to manage accounts, conduct transactions, and access banking services on iOS and Android smartphones.
• Internet Banking Online banking platform allowing customers to manage finances 24/7 through a secure web portal for personal and corporate accounts.
• Tadhamon SMS SMS notification service sending transaction alerts and account updates to customers on local and international mobile networks.
• Tadhamon Pay Express remittance service enabling Yemeni expatriates to send money from Saudi Arabia through partner banks (Al-Bilad Bank, Al-Ahli Bank), Saudi Post, and exchange companies, with delivery through Tadhamon Bank branches and 3,000+ agents across Yemen.
• Mahfathati Electronic payment e-wallet service enabling cashless transactions, bill payments, salary disbursements, and merchant payments through a mobile application.
• Tadhamon Visa Prepaid Card Prepaid Visa card allowing purchases at millions of outlets via POS and ATM withdrawals worldwide, without requiring a cash deposit guarantee.
• Tadhamon ATM Card Bank card for ATM withdrawals and payments across Tadhamon ATMs and partner networks in Yemen, with optional additional cards on the same account.
• Tadhamon Internet Card Card designed for secure online shopping and electronic payments, with optional 3D Secure protection against fraud.
• Cardless ATM Service Service enabling ATM cash withdrawals without a physical card, using mobile authentication through the bank's mobile app.
• Tadhamon Call Center Customer service hotline operating 24/7 on toll-free number 8001010, handling inquiries, complaints, and service requests via chat, email, SMS, and social media.
• Tadhamon Tawasol AI-powered chatbot and voicebot deployed across WhatsApp, Web, and Messenger channels for automated customer service and banking inquiries.
• Tadhamon Microfinance Islamic microfinance subsidiary providing Murabaha-based financing to entrepreneurs and SMEs through 14 branches across 9 governorates in Yemen.
• Tadhamon Real Estate Co. Ltd Real estate development subsidiary of Tadhamon Bank providing residential complexes and commercial centers in Yemen.
• Tadhamon Capital Investment arm of Tadhamon Bank based in the Kingdom of Bahrain, supporting investment activities for the bank.

Quantifiable outcome

• Distributed YER 20.4 billion in profits to depositors for 2025
• +4 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability5 records

Feature6 records

Partnerships

Eleven partnerships are on record, tiered minor, core and major.

• SMEPS (SFISH Project)minorStrategic or Co-development Partner · 14 August 2025Participation in promotional bazaar for beneficiaries' products under the Sustainable Fisheries Development Project (SFISH), supporting women entrepreneurs with innovative food and fishery products.
• MicrosoftcoreTechnology or Integration · 6 January 2020Implementation of Microsoft Dynamic 365 Human Resources Management System to support the bank's strategic goal of building and developing professional banking staff with the latest systems and technologies.
• SMEPS (Small and Micro Enterprise Promotion Service)coreStrategic or Co-development Partner · 23 December 2019Partnership through the Brave Women project to support business continuity for women entrepreneurs in Yemen. Tadhamon Bank provides banking services and financing to women-owned businesses in branches across Sana'a, Aden, Mukalla, Sayoun, Taiz, and Ibb targeting health, education, services, and clothing sectors.
• ICD-PS (Islamic Corporation for the Development of the Private Sector)coreStrategic or Co-development Partner · 23 December 2019Supporting partner for the Brave Women project within the global #WeFi initiative. ICD-PS provides funding and support for women entrepreneurs through partner banks including Tadhamon Bank.
• Islamic Development BankcoreStrategic or Co-development Partner · 1 January 2017Partnership to implement the BRAVE project for enhancing resilience of small and medium enterprises affected by the crisis in Yemen, with a budget up to $2 million in the first phase.
• Social Fund for DevelopmentcoreStrategic or Co-development Partner · 1 January 2017Partnership through the Brave project to support SMEs and women's private sector in Yemen, working together with Tadhamon Bank's network to deliver assistance.
• Al-Bilad Bank (Injaz Service)coreChannel Partner/ Reseller/ Distributor · 1 January 2015Saudi banking partnership enabling Yemeni expatriates to send remittances to Yemen through Al-Bilad Bank's Injaz service, with transfers delivered through Tadhamon Bank branches and agents in Yemen.
• Al-Ahli Bank (Quick Pay Service)coreChannel Partner/ Reseller/ Distributor · 1 January 2015Saudi banking partnership enabling Yemeni expatriates to send remittances through Al-Ahli Bank's Quick Pay service, with transfers delivered through Tadhamon Bank's network in Yemen.
• Saudi Post (Ersal Service)majorChannel Partner/ Reseller/ Distributor · 1 January 2015Partnership with Saudi Post's Ersal service for money transfers from Saudi Arabia to Yemen, expanding remittance options for Yemeni expatriates.
• Bin Yaala Exchange CompanymajorChannel Partner/ Reseller/ Distributor · 1 January 2015Exchange company partnership for money transfer services from Saudi Arabia to Yemen, integrated with Tadhamon Bank's delivery network.
• Send Money Transfer CompanymajorChannel Partner/ Reseller/ Distributor · 1 January 2015Money transfer company partnership enabling remittances from Saudi Arabia to Yemen through Tadhamon Bank's service points.

Scale indicators14 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• Al Kuraimi Bank for Microfinance: Yemeni Islamic microfinance bank offering Murabaha-based financing to SMEs and individuals; directly comparable as a Yemen-based Islamic microfinance institution with a branch network and similar target customer segments.
• Saba Islamic Bank: Yemeni Islamic bank providing retail, corporate, and trade finance under Sharia principles; one of the few other full-service Islamic banks operating in Yemen and the most direct head-to-head competitor to Tadhamon.
• Shamil Bank of Yemen: Yemeni Islamic bank offering Sharia-compliant retail and corporate banking products; comparable in regulatory regime, product set, and Yemeni operating context to Tadhamon Bank.
• National Commercial Bank (Yemen) / National Bank of Yemen: Yemeni state-affiliated commercial bank providing retail, corporate, and trade finance; comparable as a domestic full-service bank competing for the same Yemeni deposit and remittance pool.

Broad incumbents

• Al Baraka Banking Group: Bahrain-headquartered Islamic banking group with operations across the Middle East and North Africa; comparable as a multi-country Islamic banking franchise with corporate, retail, and trade finance offerings similar to Tadhamon's broader ambitions.
• Dubai Islamic Bank: Largest Islamic bank in the UAE offering full-service Sharia-compliant retail, corporate, and treasury banking; comparable as a regional Islamic banking incumbent with a similar product taxonomy and a much larger balance sheet.
• Bank Islam Malaysia Berhad: Malaysian full-service Islamic bank offering retail, corporate, and SME financing under Sharia; comparable as a benchmark for Islamic banking scale, product breadth, and digital transformation in an emerging-market context.

Regional players

• Bank of Khartoum: Sudan's largest bank with Islamic banking operations serving retail and corporate customers in a conflict-affected economy; comparable in operating environment, regulatory constraints, and Islamic banking franchise dynamics to Tadhamon in Yemen.
• Al Rajhi Bank: Largest Islamic bank in Saudi Arabia with a dominant share of expatriate remittance corridors from KSA to South Asia and Yemen; comparable as a Saudi-based Sharia-compliant bank competing for the same KSA-to-Yemen remittance volume that powers Tadhamon Pay.

Others

• Islamic Development Bank (IsDB): Multilateral Islamic development finance institution that partners with Tadhamon Bank via ICD-PS on the Brave Women initiative; comparable as an ecosystem enabler for Sharia-compliant SME financing in member countries including Yemen.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TadhamonBank
• Facebookfacebook.com/TadhamonBank
• LinkedInlinkedin.com/company/tadhamonbank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tadhamon Bank