Amlak renews SAR 1.06B credit facility agreement with SAIB
Amlak International Finance Co. renewed today, March 11, its Shariah-compliant credit facility agreement with The Saudi Investment Bank (SAIB), at SAR 1.06 billion.
In a statement to Tadawul, the company said the one-year financing aims to support its operations and step up its lending capacity. Guarantees provided under the deal include the assignment of receivables to the bank and a promissory note in favor of SAIB.
Amlak also pointed to the related parties involved in the agreement, as SAIB — being a major shareholder — has a direct interest in the deal.
Additionally, some board members have indirect interest, namely Majed Fakeeh, Chief Corporate Banking Officer at SAIB; Khalid Al-Rayes, CEO of Alistithmar Capital (SAIB's wholly owned subsidiary); and Ala Asali, Chief Cyber Security Officer and member of the Risk Committee at SAIB.
The company emphasized that the agreement was conducted in the ordinary course of doing business, granting no preferential terms.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Saudi Gazette
14 hours ago
- Saudi Gazette
Al-Falih: Saudi Arabia is keen on supporting Syrian economy's stability
Saudi Gazette report RIYADH — Minister of Investment Eng. Khalid Al-Falih emphasized Saudi Arabia's commitment to supporting the stability and development of the Syrian economy. He also underlined the need to serve common interests and enhance regional economic prosperity. Al-Falih made the remarks during a meeting with the Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar, via videoconference, on Sunday. He emphasized the importance of creating an environment for expanding regional investment partnerships. The ministers discussed prospects for investment cooperation between the two countries and reviewed the promising economic opportunities in the Syrian market. Their meeting addressed potential areas of public-private partnership and ways to enhance qualitative investments in the production and service sectors, contributing to supporting economic development and opening new channels for integration between the two countries.
Saudi Gazette
4 days ago
- Saudi Gazette
Saudi, Syrian ministers discuss expanding investment cooperation
Saudi Gazette report RIYADH — Saudi Minister of Investment Eng. Khalid Al-Falih held a virtual meeting on Wednesday with Syrian Minister of Economy and Industry Dr. Mohammad Nidal Al-Shaar to discuss prospects for investment cooperation between the two countries and explore promising opportunities in the Syrian market. The meeting addressed potential public-private partnerships and ways to boost strategic investments across key productive and service sectors, with the aim of supporting economic development and fostering new avenues of regional integration. Minister Al-Falih stressed the importance of creating an enabling environment for expanding regional investment partnerships, reaffirming Saudi Arabia's commitment to supporting Syria's economic stability and growth in a manner that serves mutual interests and promotes broader regional prosperity.
Leaders
4 days ago
- Leaders
Saudi Arabia, Syria Explore Investment Cooperation
Saudi Arabia and Syria have explored avenues for investment cooperation in both countries, reported the Saudi Press Agency (SPA). On Wednesday, the Saudi Minister of Investment, Khalid Al-Falih, held a virtual meeting with the Syrian Minister of Economy and Industry, Mohammad Nidal al-Shaar, to discuss avenues for joint investment cooperation and explore the promising economic opportunities in the Syrian market. During the meeting, the two ministers discussed potential areas for public-private partnership and ways to strengthen targeted investments in the productive and service sectors, with the aim of supporting economic development and opening new channels for integration between Saudi Arabia and Syria. On his part, Al-Falih emphasized the importance of fostering an enabling environment for expanding regional investment partnerships. He also reaffirmed Saudi Arabia's commitment to supporting the stability and growth of Syria's economy in a way that benefits the mutual interests of both countries and promotes regional economic prosperity. Most recently, the Saudi Foreign Minister, Prince Faisal bin Farhan, headed a high-level economic delegation to Syria, where he met with the Syrian Transitional President, Ahmed Al-Sharaa, in Damascus. They discussed avenues for joint cooperation aimed at supporting Syria's economy, enhancing the development of its governmental institutions, and fulfilling the aspirations of the Syrian people. The discussions yielded in the announcement of a Saudi-Qatari joint financial support package for Syrian public sector employees for three months. 'This support aims to contribute to economic and social stability, improve living conditions, and reinforce development efforts in Syria,' Saudi Arabia and Qatar said in a joint statement. In April 2025, Saudi Arabia and Qatar had committed to settling Syria's outstanding arrears to the World Bank Group, which is around $15 million, in order to support and accelerate the recovery of Syria's economy. Short link : Post Views: 7
