Saudi Arabia’s Abdul Latif Jameel Finance and Careem launched a new financing programme for drivers, ‘Captains’, as the company terms the title.
The programme is designed specifically to allow Careem Captains in the kingdom to more easily access finance to purchase their own cars.
This will help provide captains with a financing solution that allows them to get a new vehicle. The programme provides Captains with flexible payment plans and installments to obtain any new model from several brands including Toyota, Lexus, KIA, Hyundai, Geely, Suzuki, and MG vehicles.
Khalid D. Al Karimy, CEO, Abdul Latif Jameel Finance said, “At Abdul Latif Jameel Finance we continuously endeavor to find ways to support our community. We are aware of the various challenges facing self-employed Captains, which is why we have worked on developing this innovative program that will help them reap the full benefits from their work.”
“We are excited to cooperate with Abdul Latif Jameel Finance to make it easier for Careem Captains to obtain new models of Toyota, Lexus, KIA, Hyundai, Geely, Suzuki, and MG vehicles. This cooperation will enable more Saudi nationals to access flexible earnings through the Careem platform, said Ahmad Arrabi,” General Manager of Careem Saudi Arabia.
Over 75 percent of the Captains in the kingdom own their cars. Until now, Careem Captains have completed over 250 million trips. In 2022, earnings for Captains in Saudi Arabia totaled over SAR529 million.
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