In a new move to increase flexibility in car ownership across Saudi Arabia, Syarah has announced a partnership with Amwal that lets customers buy new and used vehicles with credit card installments. The goal is to expand payment options and make car ownership more attractive by eliminating the usual complexities of traditional financing. By offering credit card payments in installments, customers can purchase their preferred vehicles instantly, with immediate approval and no waiting. This provides a smoother, more flexible buying experience, especially for those looking for a quick, transparent solution that reduces both time and administrative hassle.

Currently, the service is available to credit cardholders of Al Rajhi Bank and Saudi National Bank, with plans to include additional banks in the future to expand access. Customers can avail of interest-free installments of up to 12 or up to 24 months, with minimal interest rate, facilitating immediate ownership within an entirely Sharia-compliant framework. Additionally, customers can earn up to SAR 2,000 in credit card rewards per purchase, depending on their transactions and rewards program.

Syarah is a Saudi digital platform that lets users buy and sell new and used cars online through a fully integrated process that starts with browsing and selecting a vehicle, continues with payment and financing options, and ends with home delivery. The platform also provides a detailed inspection covering over 200 checkpoints, offers a vehicle condition report, gives warranties of up to three years, and allows customers to return a vehicle within 10 days.

As for Amwal, it is a Saudi company specializing in payment and installment solutions through credit cards. Amwal enables customers to purchase products and services with their existing credit cards and convert them into flexible, seamless installment plans, without the need for traditional financing procedures or additional steps in the purchasing journey. Amwal aims to make installment solutions more accessible, simple, and transparent across retail, automotive, travel, electronics, furniture, healthcare, education, and other high-value sectors, in a Sharia-compliant manner that delivers real value to both customers and merchants.

With nearly 2,000 cars sold monthly on its platform, Syarah aims to expand its customer base, particularly among those who value flexible payment options. This partnership signifies a step forward in the evolving landscape of e-commerce, digital payments, and customer-centric innovation.

This partnership comes at a time of rapid transformation in both Saudi Arabia’s automotive and credit card markets.

According to specialized research reports, the Kingdom’s new-car market was valued at approximately USD 25.8 billion in 2024 and is projected to reach USD 40.6 billion by 2030. The used car market, meanwhile, was estimated at approximately USD 10.2 billion in 2025 and is expected to grow to USD 17.4 billion by 2034.

At the same time, Saudi Arabia’s credit card market serves a broad customer base of nearly three million users, with annual growth of around 8%. Credit card penetration is also expected to reach approximately 50% of customers by 2030. This highlights a growing opportunity to connect credit card payment solutions with high-value sectors such as automotive, enabling customers to benefit from more flexible purchasing options while helping merchants and digital platforms enhance purchase appeal and simplify the ownership decision.

Commenting on the partnership, Salah Al-Sharif, CEO of Syarah, said: "At Syarah, we are committed to enhancing the car-buying experience in Saudi Arabia by offering faster, more flexible solutions that meet customer needs. Our agreement with Amwal marks an important step in providing a new option for customers to purchase new and used vehicles using their credit cards, with instant approval, a seamless digital process, and added benefits that increase the overall value of the purchase.”

Reda Reda, Chief Business Officer at Amwal, added:

“Our main goal at Amwal is to provide flexible and simple financial services that serve customers and enhance the quality of financial services in the region. We are pleased to partner with Syarah, one of the leading digital automotive platforms, to launch a pioneering service that enables customers to purchase cars using their credit cards through a seamless digital experience, instant approval, and flexible installment plans.”

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