An instant service for your financial needs
Tamam financing is a fintech entity established in 2019 and currently operating under the SAMA regulatory Sandbox environment. Our goal is to increase financial inclusion in the Kingdom in line with the Financial Sector Development Plan, part of Saudi Arabia's Vision 2030.
We offer individuals requiring financing the opportunity to immediately avail an Islamic Shari'a compliant loan without physically visiting a bank location. The end to-end Shari'a approved process takes minutes from the time you download the app till you have the loan amount.
Frequently asked questions
What is Tamam?
Tamam is a Fintech company established in 2019 in KSA and providing consumer micro-lending services in the kingdom under the supervision of the Saudi Arabian Monetary Authority (SAMA). We offer instant financing without complicated documentation or visiting bank branches.
Are your services Shariah compliant?
Yes, our loans are in compliance with the Shariah Tawaruq model. The product has been approved and certified by a well know Shariah Committee
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How do I know if I am eligible for a loan?
After completing the online registration process and starting the loan application, customers eligibility will instantly be calculated
Can I request a new loan if I have a pending one?
No, you need to fully settle your existing loan before you can apply for a new one
What type of legal actions could I face for failing to repay my loan?
You will be reported to the Saudi credit bureau (SIMAH) which will negatively impact your future credit requirements and also to the respective courts or authorities. Hence, please ensure to pay promptly to avoid any future credit or legal impact
How do I apply for a loan?
Download Tamam application on iOS or Android and complete the online registration. Based on your eligibility, you will be able to request a finance
What is the maximum loan amount that I can get?
The maximum financing amount depends on each customer's profile. Please register on the app, go through the steps and you will be able to automatically see your eligibility
What is the loan profit rate that I have to pay?
The profit rates vary depending on each customer's profile and eligibility. You need to request new finance through the app and accordingly, you will be able to check the profit rate and any other related fees.
Why am I not eligible for a loan?
Customer eligibility depends on a large number of factors such as your income, SIMAH score, debt burden ratio and more. There isn't a unique answer to this question. If you'd like to know more, please contact our customer support through LiveChat.
Why am I only eligible for SAR XX?
We define your maximum loan value based on a unique internal credit scoring mechanism developed by Tamam. The credit score cannot be altered; this is the maximum loan amount you are eligible for at this stage based on your profile (i.e. income, SIMAH score, debt burden ratio...)
On what basis you calculate the fees?
As per the financing agreement, we applied a standard service fee on your loan driven by the loan amount you have selected. An early settlement of your loan would help you avoid any additional fees
Can I cancel the loan after signing the agreement?
The loan can only be canceled within the first 10 days with the condition that the financing amount is not transferred to any local bank account with the condition of repaying the administrative fees incurred by Tamam to approve the financing application in compliance with SAMA's Consumer Protection Principles
Registration & login
Why am I receiving an error message stating that my ID already exist within your platform?
Someone has registered using this ID number and verified it with Absher.
Why am I receiving an error when inputting my phone number?
Please make sure you are using your Saudi primary phone number registered with Absher and linked to your national ID
Why am I not receiving a temporary password?
Please make sure you can access the phone number you have registered with Tamam. Temporary password validation is required to move to the next step
Why am I not receiving Absher temporary password?
Absher temporary password is managed directly by Absher and sent to your primary mobile number registered with them. Please make sure you have access to that mobile number or you cannot proceed
I forgot my pin, how can I reset it?
You can reset your PIN if you have access to your registered phone number. All you need to do is to click "forgot PIN" at the login page and follow the steps.
I have received a verification SMS that contains a temporary password from Tamam, however, I haven't submitted any request. Why is that?
This might be a potential fraud. We will have to temporarily block the account registered using your phone number and National ID\Iqama and investigate further
Transfer from/to Tamam
How do I cash-out my loan?
You can cash-out your loan by transferring money to any bank account in the Kingdom using the cash-out option.
Why my bank does not appear in the list of banks?
You can only transfer to local bank accounts in the Kingdom. If your bank is in the Kingdom and its not in the list, please contact us.
I transferred the money to my bank account. when it will be deposited at my bank account?
Transfer request to bank account usually processed from Sunday till Thursday between 9:00am and 3:00pm. Other than that, you'll receive the amount on the second working day after 9:00 am
I still have not received money transferred to local bank account. Why is that?
Please send us your transaction number or a screenshot of the transaction notification and we will get back to you shortly
I have transferred the money from my bank account, however, weekly interest was added prior to the money reaching my Tamam account? What do I need to do?
Please send us a proof of the transaction on livechat (e.g., screenshot or SMS notification) and we will review your case and take the appropriate action accordingly
How do I payback my loan?
The loan payback can be done online using credit, debit, or Mada card or by a local bank transfer. Your Tamam wallet IBAN number is shown in the application (when you click on pay loan using SARIE transfer)
For early settlement, would the fees be different?
You can save money if you decide to pay before the installment due date. For more details check "how to save" section in the mobile app.
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Shari’a Compliance is our essence
Offering Shari'a compliant products and following the Islamic Shari'a principles are core features of Tamam and its services.
We made sure to work with a team of professional Shari'a advisors & scholars to ensure that our product journey and processes are in line with Shari'a principles.
Our Shari'a advisors & scholars periodically review and audit the company's operations to ensure continuous delivery of Shari'a compliant products and services in accordance with Islamic values.
Tamam (Tamam Finance) is permitted by the Saudi Arabian Monetary Authority to test its innovative products under the SAMA regulatory Sandbox. All of the Tamam products and services are approved by our Islamic Shari'a board, and in compliance with the Shari'a Tawaruq model. The board periodically reviews and audits the company's operations to ensure continuous Shari'a compliance. For more information please click here