The General Organization for Social Insurance signed a cooperation agreement with Saudi Finance Company to provide personal financing solutions for retirees benefiting from the "Taqdeer" program, aiming to enhance services offered to retirees to improve their quality of life, in addition to expanding strategic partnerships with entities in the public and private sectors.

Sun, 19 2026

Providing financing despite existing loan

Under the agreement, the company will provide personal financing compliant with Islamic Sharia provisions, with the possibility for the retiree to obtain additional financing even if there is existing financing with other financing entities.

Sun, 14 2026

Debt purchase and death waiver among benefits

The agreement includes the possibility of purchasing existing debts and consolidating the client's financial obligations, with an early repayment option, in addition to waiving the remaining installments in the event of death.

The agreement stipulated that the retiree's age must not exceed 65 years at the due date of the last installment, with installments to be paid through direct deduction from the pension, not exceeding 25% of the pension value, aiming to balance meeting financing needs and maintaining the retiree's financial stability.

The "Taqdeer" program is one of the national initiatives in Saudi Arabia dedicated to honoring male and female retirees, providing various benefits and offers in cooperation with a number of entities in the public and private sectors.

Sun, 21 2025

67 million subscribers and reforms to enhance labor market flexibility

During 2025, the General Organization for Social Insurance witnessed an expansion in the subscriber base alongside labor market growth, as the number of subscribers subject to social insurance systems in the public and private sectors reached about 13.67 million subscribers at the end of the fourth quarter of 2025, including about 3.1 million Saudis and more than 10.5 million residents, according to data from the General Authority for Statistics.

On July 1, 2025, the provisions of the new Social Insurance System began to be applied to new entrants to the labor market, aiming to unify insurance provisions between the public and private sectors, increase job mobility flexibility, introduce a maternity benefit for 3 months, in addition to applying a gradual increase in pension branch contributions for new subscribers over 4 years.

Fri, 10 2025

The Social Insurance System grants subscribers and beneficiaries a set of benefits including a monthly retirement pension upon meeting eligibility conditions, pensions and compensations for heirs, disability compensations resulting from work injuries, insurance coverage against occupational hazards, the possibility of disbursing lump-sum compensations in cases specified by the system, in addition to integrated digital services through the organization's application and platform, while providing greater flexibility in moving between public and private sector jobs without losing insurance rights.

Mon, 25 2026

Saudi Finance Company

Saudi Finance Company is one of the oldest non-banking finance companies in Saudi Arabia, established in 1990 with a capital of 10 million riyals, and was wholly owned by Abdullah Ibrahim Al-Khuraif Sons Company. In 2011, Abu Dhabi Islamic Bank acquired a 51% stake in the company, coinciding with raising its capital to 200 million riyals, which is the current capital.

The company operates under the supervision of the Saudi Central Bank, and offers a set of financing solutions compliant with Islamic Sharia provisions, including personal finance, small and medium enterprise finance, consumer finance, productive asset finance, in addition to leasing, targeting individuals and the business sector.

Despite its position in the finance sector, the company is not listed on the Saudi Stock Exchange (Tadawul), as it operates as a closed joint-stock company.