Riyadh: Quara Finance, a leading Saudi company providing Sharia-compliant financial services, and Qobolak, a specialist service provider dedicated to helping students achieve their educational goals, today signed a partnership agreement that is set to facilitate university access for young Saudis.

The partnership allows Quara Finance to offer educational loans to prospective Saudi students planning to study in the Kingdom or abroad and who require additional financial support. The new avenue of financial support is expected to contribute to the ongoing skills development of young Saudis, in line with the Kingdom's Vision 2030.

Any Saudi student who wishes to complete their higher education will be eligible for the financial education loan, which covers the full tuition fees of any Qobolak partnered universities in the Kingdom and abroad.  Students will first need to select the appropriate financial loan scheme and then complete a simple form and track the status of their application through the Qobolak portal.

At the partner signing ceremony, Ehab Hassoubah, CEO, Quara Finance, said: "Nothing should stand in the way of a young person's education, but we understand that financing education can be a significant issue for many students. We believe that every student looking to complete their higher education should have the support they need regardless of their situation. Quara Finance's partnership with Qobolak will provide students with the financing solutions they need to begin and complete their education journey in the university of their choice."

He added: "The partnership also contributes to Vision 2030 and the National Transformation Programme for education in Saudi Arabia, which seeks to support and build a generation that is ready for future market opportunities, prepare students with leading skills and reduce unemployment."

Mostafa Alqahtani , Founder and CEO, Qobolak Study Abroad, said: "Higher education is the foundation for success and the pathway to promoting economic mobility in the Kingdom. We are very grateful to Quara Finance for the opportunity to support our students in pursuing undergraduate and graduate studies in local universities and abroad."

Qobolak Study Abroad has established strong working relationships with over 1500 educational institutions and universities worldwide. They support students on the required admission documents and application process, as well as help with visas, flights, and accommodation.

Quara Finance is committed to Saudi youth development, and partnering with Qobolak will engage and empower students to receive a quality education in the Kingdom or abroad.

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About Quara Finance:

In May 2020, Quara Holding acquired Maalam Financing and gyrated it into Quara Finance, a future forward company that caters to the financial needs of individuals and businesses of the digital age. Its portfolio of services includes innovative shariah-compliant financial products and solutions. Today, Quara Finance is one of the leading financial services company in the Kingdom, a first-of-its-kind that caters to individuals and SMEs alike.

About Qobolak Study Abroad:

Qobolak is a Saudi-based education services company with branches in Saudi Arabia and the United Kingdom dedicated to helping students from across MENA with specialised studying abroad services. Working in collaboration with over 1500 leading universities and educational institutions globally, most notably in the UK, the United States of America, Australia, and Ireland, Qobolak has supported over twelve thousand students access a multitude of specialist education, training, and consultancy services, and select their ideal educational pathway.

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