{"id":98739,"date":"2025-07-15T00:00:00","date_gmt":"2025-07-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/"},"modified":"2025-07-15T00:00:00","modified_gmt":"2025-07-15T00:00:00","slug":"sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/","title":{"rendered":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund"},"content":{"rendered":"

<\/strong>Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund:<\/strong> Sukna Capital received the green light from the Capital Market Authority (CMA) to roll out the region\u2019s first open-ended, sharia-compliant direct financing fund, according to a statement (pdf)<\/a>.<\/p>\n

Open-ended? <\/strong>The new vehicle aims to provide flexible capital to SMEs \u2014 meaning institutional investors can enter and exit periodically without long lock-up periods. This allows founders to finance their operations while maintaining full ownership and avoiding the constraints of equity financing.<\/p>\n

Below target: <\/strong>\u201cAs of 3Q, SME lending in Saudi Arabia is estimated to be SAR 329.23 bn \u2014 just 9.1% of total bank credit \u2014 well below the Vision 2030 target of 15-20%,\u201d said Fares Bardeesi, CEO of Sukna. <\/p>\n

Mismatched development: <\/strong>Sukna attributed SME lending falling below targets to traditional financing structures not keeping pace with the rapid development of Saudi\u2019s business environment. \u201cThe tech and startup ecosystem has matured significantly, but financing structures simply haven\u2019t caught up.\u201d Managing Partner of Sukna Ventures Waleed Alballaa said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new vehicle will provide flexible, non-dilutive capital to SMEs<\/p>\n","protected":false},"author":1,"featured_media":98740,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[57,10,3771,3945],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-98739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-ksa","tag-mena","tag-sukna","wpautop","entry"],"acf":{"mongo_id":"b8f87c4e-929d-4720-bafd-83b172429ab1","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/7\/942.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund","related_issue":[98732],"teaser":"The new vehicle will provide flexible, non-dilutive capital to SMEs","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.e588c103-225c-4f3e-805a-4e67ed87d078.mp3"},"yoast_head":"\nSukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund - KSA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund\" \/>\n<meta property=\"og:description\" content=\"The new vehicle will provide flexible, non-dilutive capital to SMEs\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"KSA\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-15T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund\",\"datePublished\":\"2025-07-15T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\"},\"wordCount\":173,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1\",\"keywords\":[\"debt watch\",\"EnterpriseAM KSA\",\"MENA\",\"Sukna\"],\"articleSection\":[\"DEBT WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\",\"name\":\"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund - KSA\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-07-15T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/ksa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#website\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"name\":\"KSA\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#organization\",\"name\":\"KSA\",\"url\":\"https:\/\/enterpriseam.com\/ksa\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/42482.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/42482.svg\",\"caption\":\"KSA\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund - KSA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/","og_locale":"en_US","og_type":"article","og_title":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund","og_description":"The new vehicle will provide flexible, non-dilutive capital to SMEs","og_url":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/","og_site_name":"KSA","article_published_time":"2025-07-15T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund","datePublished":"2025-07-15T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/"},"wordCount":173,"publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1","keywords":["debt watch","EnterpriseAM KSA","MENA","Sukna"],"articleSection":["DEBT WATCH"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/","url":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/","name":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund - KSA","isPartOf":{"@id":"https:\/\/enterpriseam.com\/ksa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1","datePublished":"2025-07-15T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/ksa\/2025\/07\/15\/sukna-launches-menas-first-open-ended-sharia-compliant-direct-lending-fund\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/ksa\/"},{"@type":"ListItem","position":2,"name":"Sukna launches MENA\u2019s first open-ended, sharia-compliant direct lending fund"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/ksa\/#website","url":"https:\/\/enterpriseam.com\/ksa\/","name":"KSA","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/ksa\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/ksa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/ksa\/#organization","name":"KSA","url":"https:\/\/enterpriseam.com\/ksa\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/42482.svg","contentUrl":"https:\/\/ent.news\/internal\/42482.svg","caption":"KSA"},"image":{"@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/ksa\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/ksa\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/942.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/98739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/comments?post=98739"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/posts\/98739\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/issue\/98732"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media\/98740"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/media?parent=98739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/categories?post=98739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/tags?post=98739"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/brand?post=98739"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/ksa\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=98739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}