Renewal of SAMA License

Approval of the company’s new bylaws.
Approval of Auto Lease & Murabaha products.

SAMA License Obtained

Issuance of the first asset-backed, off-balance
sheet Sukuk of 500 million Saudi Riyals.

Increase in capital to 500
Million Saudi Riyals

Formation of a Closed-Joint
Stock Company with a capital
Of 140 million Saudi Riyals.

Name changed to AJIL
Financial Services Company.

SAMA & MOCI approvals for the induction
of new shareholders. shareholders’
agreement signed to Form a Closed-
Joint Stock Company.

Letter of Intent was signed
with Riyad Bank

The company’s capital
was increased to 20
million Saudi Riyals

AJIL Financial Services was established
with a capital of 1 million Saudi Riyals