MORABAHA MARINA REBRANDS AS MRNA AFTER TEN YEARS OF GROWTH

15
  • New brand will strengthen reputation and recognition in Saudi Arabia’s fast-growing SME financing market
  • Rebranding is a key milestone in MRNA’s strategic plan to accelerate growth and reasserts ambitious long-term corporate vision
  • Arabic-inspired logo symbol strengthens its corporate cultural identity

Riyadh, Saudi Arabia: Morabaha Marina Financing Company (“MRNA”, or “the Company”), a fully independent non-bank Saudi SME and consumer financing company, today launched its new brand celebrating the ten-year anniversary of its founding and reflecting the ongoing transformation and digitalization of its business.

The new brand, “MRNA”, crystalizes the Company’s core values and culture as a Saudi business. With a carefully crafted Arabic-inspired logo symbol, it conveys a modern and forward-thinking corporate identity that supports the Company’s ambitious long-term vision for its business activities and its sector.

Earlier this year, MRNA expanded its value proposition through the acquisition of the Saudi Digital Payment Company (“Loop”), a digital payments technology and services provider. The acquisition enables the Company to accelerate its digital transformation and enhance its offerings through new products and solutions for both the consumer and SME segments. MRNA’s digital solutions include a wallet-based value proposition combining electronic wallet, lending and value-added services in one application, providing access to financing solutions at the convenience of click-through secure and convenient e-wallet enabled services.

Waleed Al-Ghumlas, Managing Director and Board Member of MRNA, said: “Our new corporate identity is a strong visual representation of our core vision, mission and values. Our ability to offer a unique value proposition in the Saudi market requires a strong identity that is commensurate with our ambitions for our portfolio, our service offering and our industry. The continued transformation and digitalization of our business, accelerated by our recent acquisition of Loop, is a key part of the new face for MRNA, an identity that makes us proud of who we are. We have put Arabic at the forefront of our brand to achieve an aesthetic that is a modern and powerful communique to our customers and partners.

As we continue to grow, we look forward to higher levels of brand awareness, which will support growth in market share. I am personally looking forward to an exciting future for the business and we look forward to sharing in our successes with customers, partners and shareholders.”

As part of the development of its new brand, MRNA has set out its vision, mission, and values:

Vision: To be the partner of choice for financing services and digital financial solutions.

Mission: To empower our customers to realize their aspirations, we keep ahead of industry developments and build local talent and competencies, supporting the Kingdom’s progress through reliable and trusted partnerships. We provide flexible financial solutions that meet customers’ needs, enabling people and businesses to achieve their goals through innovative financing and investment.

About MRNA

MRNA is a pioneering sharia-compliant financing platform offering a wide range of flexible and innovative solutions, with commercial registration (1010337706) licensed by the Saudi Central Bank No. 22/أ ش/201410 dated 11/19/1435 AH. Established in 2012, the company has a head office in Riyadh and 16 branches located in 13 cities across Kingdom, it specializes in providing flexible financial leasing, small and medium enterprises financing, productive assets and consumer financing, subject to control and supervision of The Saudi Central Bank (SAMA)