May 8 2016, Dubai : Bidaya Home Finance, headquartered in Riyadh Saudi Arabia, a recently incorporated and dynamic organization, dedicated to the provision of home financing to Saudi Arabian nationals, today announced a partnership with Qarar Consulting, a leading provider of advanced analytics and risk management solutions.

Following an earlier agreement to provide Bidaya with a leading edge customer on-boarding platform through a Software as a Service (Saas) model, Qarar is to provide best practice credit risk advisory and analytical services to support Bidaya in its continued drive for innovation, excellence and growth.

The partnership covers a range of advisory and analytical services to support Bidaya’s plans to rapidly grow its coverage in the Kingdom in a progressive and controlled manner, while at the same time enhancing the customer experience through an automated a timely decision process. The partnership will enable Bidaya to better understand its target customers, their behaviours, and serve them more effectively   through tailored products and differentiated communications.

“Qarar’s local knowledge, analytical experience and long term business approach was clearly an important element in our partnering decision” stated Bidaya’s Chief Executive Officer, Mazin Al Ghunaim. “In addition, a key factor in our decision is Qarar’s knowledge base, flexibility and commitment to the region, enabling us at Bidaya to develop our growth plans in a progressive sustainable and efficient manner, knowing we can benefit from and rely on Qarar to provide market leading advisory and analytical services for the medium to long term as we progressively expand our business by enabling homeownership for all”.

“We are delighted to have the opportunity to partner alongside Bidaya and demonstrate the considerable value that Qarar can bring in supporting Bidaya’s development in the home financing market”, commented Zaid Kamhawi, CEO at Qarar. “The importance of sound risk strategy and practices, supported by thorough understanding of the underlying data, both internal and external, such as credit bureau is increasingly important. We are excited to be supporting Bidaya, a youthful and dynamic organization in the Saudi home financing market achieve their objectives”.

Qarar’s services are provided to financial services organisations in the Kingdom of Saudi Arabia and across the Middle East region. The company is based in the Dubai Internet City providing decision management solutions and consumer risk management and analytics advisory services.

About Qarar

Headquartered in Dubai, Qarar is a leading provider of analytical services and solutions to the consumer credit industry. Qarar helps organisations achieve long term sustainable economic performance, apply data driven decisions through the application of advanced modelling and automated decision technologies.

Qarar supports each stage in the customer credit lifecycle from acquisition through to collection and recoveries. We offer a range of services, including predictive analytics, risk advisory and  credit bureau data services. Qarar’s software platforms are available for deployment in-house or on a hosted service basis. To learn more go to

About Bidaya

BIDAYA Home Finance was founded and launched as a joint stock company with a total paid-up capital of 900 million Saudi Riyals. Headquartered in Riyadh, BIDAYA is licensed under the Saudi Arabian Monetary Agency (SAMA), and offers suite of Sharia’a compliant products to end-users and partners. Bidaya Home Finance has the preeminent composition of shareholders in the  home finance space. It is sponsored by the Islamic Corporation for the Development of the Private Sector (ICD – Member of the Islamic Development Bank Group), Public Investment Fund along with a cross-section of organizations committed to the enablement of home ownership.

The mandates of ICD and PIF are integral to the formation of Bidaya and its social mandate to participate and improve in the enabling of home ownership opportunities to Saudi families.

Other sponsors and promoters include prominent shareholders in the Kingdom including Rashed AbdulRahman Al Rashed & Sons Company, Arab Investment Company, Al Othaim Holdings, Manafi International (M.Y Naghi & Brothers), El Khereiji Investment Company, Manafea Holding Company and Jawahir Investment Co. Bidaya will increase access to finance for middle income home buyers across the Kingdom.

Press Enquiries

Anulekha Shetty, Head of Marketing, Qarar, Email:, Phone: +971 4 3759363