Al Manar Financing & Leasing

What Al Manar Financing & Leasing does

Al Manar Financing & Leasing Co. K.S.C.P. is a Kuwait-based Islamic financing institution established in November 2003 and listed on the Kuwait Stock Exchange under ticker ALMANAR. The company provides Sharia-compliant installment-based financing products spanning vehicle financing (new and used), furniture and household electronics, marine equipment, medical treatment, educational fees, computers and accessories, and real estate property. It serves both individual consumers (primary segment) and corporate clients (secondary) in Kuwait, with medical treatment financing offered at no profit or fees as a distinguishing social product. Pricing is structured as transaction-based monthly installments of up to 60 months, with administrative fees on ancillary services such as To-Whom-It-May-Concern certificates (KD 2) and free first-time discharge certificates.

The underlying technology stack consists of an electronic finance application portal, an online installment calculator, iOS and Android mobile applications for payments and account access, online payment systems, and a mobile collection service that visits customers at preferred locations to collect installments. Distribution combines a physical branch network (headquarters in Kuwait City's Qibla Square Tower plus branches in Hawally, Maidan Hawally, and Fahaheel), digital self-service channels, and field collection operations. The company is regulated by Kuwait's Capital Markets Authority (CMA) and operates under a three-member Sharia Board led by Sheikh Prof Dr. Mohammad Abdul Razzaq Al Tabtabae.

The business model generates revenue through financing services (transaction fees on installment contracts across product categories), investment activities (surplus fund portfolio management, share and bond transactions, real estate development participation), real estate services (buying, selling, managing, and leasing property), and consultancy services in investment and real estate finance. Revenue concentration is spread across retail installment contracts with no disclosed enterprise anchor customers, supporting a low customer-concentration profile. Ownership is distributed, with Aqar Real Estate Investments holding 29%, the Public Institution for Social Security (PIFSS) holding 14.58%, and Chairman Mr. Faisal Abdel Aziz Abdullah Al-Nassar holding 11.46%. Recent corporate actions include two CMA-approved capital reductions in 2021 and 2022, multiple leadership changes, and the appointment of Mr. Dhari Abdel Aziz Abdullah Al-Nassar as CEO effective April 1, 2025.

Name

Al Manar Financing & Leasing

Legal name

Al Manar Financing and Leasing Co. K.S.C.P.

Website

https://almanar.com.kw

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Al Manar Financing & Leasing is a Kuwaiti Islamic Sharia-compliant financial institution offering consumer and corporate installment financing for vehicles, real estate, education, medical, marine, electronics, and furniture, distributed through a branch network and digital channels in Kuwait.

Ownership category

akta.pro rank

Product category

Islamic Consumer & Corporate Financing

NAICS

Automotive Equipment Rental and Leasing (5321), Consumer Goods Rental (5322), Consumer Electronics and Appliances Rental (532210)

SIC

Finance Lessors (6172)

akta.pro primary industry

Shariah-compliant Financing Products (Murabaha, Ijara, Tawarruq, Istisna, Salam) (FSABAGAH)

akta.pro secondary industries

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG), Appliance Leasing (Home & Kitchen) (FSAKANAC)

Keywords

• Islamic consumer financing
• Vehicle financing leasing
• Sharia-compliant lending
• Installment financing services
• Real estate finance

Headquarters

HQ city

Kuwait

HQ country

Kuwait

HQ region

Middle East

Offices4 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. Financing Services: Providing financing for vehicles, furniture, electronics, marine equipment, medical treatment, education, computers, and real estate through installment-based Sharia-compliant products.
2. Investment Activities: Investing surplus funds in investment portfolios managed by specialized companies, buying and selling shares and bonds, and participating in real estate development.
3. Real Estate Services: Buying and selling land and real estate, managing and leasing properties owned or leased by the company.
4. Consultancy Services: Providing consultancy in investment and real estate finance, project management services, and acting as Investment Controller.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Al Manar Financing & Leasing is an Islamic (Sharia-compliant) financing institution offering consumer and corporate installment-based financing for vehicles, furniture and electronics, marine equipment, medical treatment, educational fees, computers and accessories, and real estate property. Supporting offerings include investment activities in managed portfolios and real estate, real estate buying/leasing, and investment/real estate consultancy. The company distributes through branches across Kuwait, mobile apps for iOS and Android, an electronic finance application portal, and a mobile collection service.

Product overview

Al Manar Financing & Leasing is an Islamic financing institution offering a portfolio of Sharia-compliant consumer and real estate financing products. The core offerings include Vehicle Financing (new and used), Furniture & Electronics, Marine Equipment, Medical Treatment Services, Educational Services, Computers & Accessories, and Real Estate Property financing. These products are supported by digital services including an Electronic Finance Application, Installment Calculator, Post Sale Services, and Collection Services. The company operates mobile applications for Android and iOS enabling online payments and account access. All products are designed to comply with Islamic Sharia principles with benefits including no down payment, grace periods, flexible payment methods up to 60 months, and competitive pricing.

Differentiator

Problem solved

Functional benefit

Products and services

• Vehicle Financing & Leasing Islamic-compliant vehicle financing covering both new and used vehicles from all agencies, with installment plans up to 60 months, no down payment, a grace period for the first installment, and flexible payment methods. Available to individual consumers and corporate clients.
• Furniture & Electronics Appliances Financing Sharia-compliant installment financing for furniture, household items, electronics, and electrical devices, provided through preferred suppliers for individual consumers.
• Marine Equipment Financing Islamic-compliant financing for boats (new or used) and other marine equipment with flexible installment options, available to individuals and corporate clients.
• Medical Treatment Services Financing Sharia-compliant financing for medical expenses, offered to individual customers with no profit or other fees charged, addressing the burden of costly medical treatments.
• Educational Services Financing Sharia-compliant installment financing for educational fees covering schools, universities, and training centers, with same-day response for applications, addressing the burden of educational fees at the start of each year.
• Computers & Accessories Financing

Quantifiable outcome

• Monthly installments available up to 60 months
• +1 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered supporting and regulatory.

• Kuwait Clearing Company (KCC)supportingOthersNational clearing house managing shareholder records, official notifications, cash dividend distributions, and share-related entitlements for Al Manar shareholders.
• Capital Markets Authority (CMA)regulatoryOthersRegulatory authority overseeing Al Manar's operations, approving corporate actions, board changes, capital transactions, and ensuring compliance with Kuwaiti financial regulations.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Burgan Bank: Kuwaiti conventional bank offering consumer loans, vehicle financing, and real estate finance products. Comparable to Al Manar as a Kuwaiti consumer finance provider, though conventional rather than Sharia-compliant and with a more developed corporate banking franchise.
• Boubyan Bank: One of Kuwait's leading Islamic banks providing retail and corporate Sharia-compliant banking, consumer financing, and real estate finance. Comparable to Al Manar as a Kuwaiti Islamic finance institution with overlapping product offerings (vehicle, real estate, personal financing), but operating at much larger scale with a national branch network.
• Kuwait Finance House: Kuwait's largest Islamic bank offering a broad retail and corporate Islamic finance franchise including consumer financing, real estate finance, and investment products. Directly comparable to Al Manar as an Islamic finance provider operating in Kuwait with overlapping product categories, though at significantly larger scale.
• National Bank of Kuwait: Kuwait's largest conventional bank offering consumer loans, auto financing, real estate finance, and investment products. Comparable to Al Manar as a major Kuwaiti retail finance provider, though conventional rather than Islamic, and serving a much larger customer base.
• Al Baraka Banking Group: Bahrain-headquartered Islamic banking group with retail and corporate banking operations across the Middle East and North Africa. Comparable to Al Manar as a regional Islamic finance provider offering consumer and corporate financing, but with broader geographic reach and a more diversified product portfolio.
• Warba Bank: Kuwaiti Islamic bank offering retail financing, real estate finance, and investment products in compliance with Sharia principles. Comparable to Al Manar in Kuwaiti Islamic consumer finance, but with a more developed corporate and digital banking infrastructure.
• Gulf Bank: One of Kuwait's largest conventional banks providing personal loans, auto finance, real estate financing, and investment services. Comparable to Al Manar as a Kuwaiti retail finance competitor with broader product breadth and a more established branch and digital infrastructure.

Others

• Kuwait Projects Company (KIPCO): Major Kuwaiti holding company with diversified interests in financial services, media, and industry. Comparable to Al Manar as a Kuwaiti-listed investment-oriented entity, with strategic overlap in consumer finance and investment management activities.
• Boubyan Capital: Kuwaiti investment company offering investment management, brokerage, and asset management services within Islamic finance principles. Comparable to Al Manar in Kuwaiti Sharia-compliant investment activities, with potential overlap in managing surplus funds and investment portfolios.
• Aqar Real Estate Investments Company: Kuwaiti real estate investment company and Al Manar's largest shareholder (29% stake). Connected to Al Manar through shared strategic interest in Kuwaiti real estate and Islamic finance, and potentially a channel for real estate financing collaboration.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Al Manar Financing & Leasing