Alrajhi Bank, one of the world’s largest Islamic banks, has gone live with QUALCO’s ProximaPlus platform, launching a fully digital Payables Finance solution under the Goods Murabaha structure. The implementation marks a significant step toward transforming the bank’s Sharia-compliant Supply Chain Finance (SCF) operations.
The deployment addresses critical operational challenges—including time-consuming manual processes, limited scalability, and lack of real-time visibility. With QUALCO ProximaPlus, alrajhi bank now offers an automated, buyer-led SCF solution that enhances efficiency, improves invoice tracking, and enables cross-regional expansion while ensuring full compliance with Islamic finance principles
George Koukis, International Business Development Director at Qualco Group, commented on his turn:
“Digital transformation in Islamic finance requires technology that doesn’t compromise on compliance, scale, or user experience. Through ProximaPlus, we’re supporting alrajhi bank in building a scalable SCF infrastructure that unlocks new opportunities for growth and innovation in the Kingdom’s evolving financial ecosystem.”
Looking ahead, alrajhi bank and QUALCO plan to expand the platform’s capabilities by introducing additional buyer—and supplier-led SCF products. Each offering will be developed under a Sharia-compliant framework, tailored to the evolving needs of businesses across the Kingdom of Saudi Arabia.
About alrajhi bank
Alrajhi Bank is one of the largest Islamic banks in the world, with total assets exceeding SAR 1 Trillion. Headquartered in Riyadh, the bank operates an extensive network of branches and digital channels across the Kingdom of Saudi Arabia and beyond.
Since its establishment in 1957, Al Rajhi Bank has played a leading role in shaping Sharia-compliant banking, offering a full suite of retail, corporate, and investment banking services.
The bank is committed to driving financial innovation and supporting the Kingdom’s economic vision through ethical, customer-focused solutions.
About QUALCO
QUALCO delivers advanced software solutions that empower businesses to navigate the complexities of the credit and lending landscape, including supply chain finance, while maintaining compliance with industry and regulatory standards. Spanning the entire credit value chain, QUALCO harnesses advanced analytics and digital innovation to optimise operations, elevate customer experience, and equip financial institutions with the agility to scale efficiently and achieve sustainable growth in a digital-first world.
