Alyusr leasing and financing company has signed a joint cooperation agreement with "X-cite Electronics", one of the fastest-growing consumer electronics brands in the Kingdom of Saudi Arabia,. The signed agreement will provide X-cite Electronics customers who are willing to buy electronic devices from the company's branches, with consumer financing services through resale for profit program "Murabaha". It aims to provide customized instalment programs for X-cite's customers in the country, and make it easier for customers to purchase and own consumer electronics. The agreement was co-signed by Badr Bin Khalaf Alshammari, Chief Executive Officer of Al-Yusr Leasing & Financing Company and Cedric Gonnet, Senior Country Manager of X-cite Electronics, at a commemorative event in X-cite's flagship showroom in Riyadh. Through this partnership, customers at X-cite will now be able to pay for their purchases through agreed-upon instalments lasting up to 24 months. Al-Yusr will be opening offices within all X-cite KSA stores, with representatives dedicated to supporting customers in-store. Customers wishing to buy big-ticket items can apply to participate in the Murabaha program which enables the financed purchase of goods in accordance with Islamic banking and finance practices. Customers can enjoy instant approval, low Sharia-compliant interest rates, and customized financing plans that empower them to make meaningful personal purchases while accommodating their financial needs. X-cite Electronics Company offers a unique experience for a wide range of electrical and electronic devices from mobile phones, camera, computers, home and kitchen appliances. Under this agreement, Alyusr company works to implement Murabaha financing program in accordance with the consumer financing regulations in the light of the provisions of Islamic Law. The program works on the principle that the customer wishing to buy his/her needs have to apply for "financing the purchase of goods" application, so that Alyusr after agreeing to provide financing service by purchasing the requested goods from X-cite Electronics and reselling them to the customer at the agreed profit margin, so that the beneficiary will then pay the financing in specific instalments agreed between the two parties. — SG
