SAIC inks SAR 100M credit facility deal with Alinma Bank
In a statement to Tadawul, SAIC said the one-year financing is guaranteed by a promissory note, besides pledging a portion of its investment portfolio assets.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Leaders
4 hours ago
- Leaders
Applications Open for 2nd Batch of Standard Incentives for Industrial Sector
The Ministry of Industry and Mineral Resources and the Ministry of Investment have opened applications for the second batch of Standard Incentives for the Industrial Sector. Qualified projects can receive up to 35% of their initial investment, with a maximum of SAR 50 million per project. Support will be distributed equally across construction and production phases, ensuring financial and operational stability for up to seven years. Government Commitment This initiative reflects the government's ongoing commitment to building a strong industrial ecosystem and supporting the domestic production of goods not currently manufactured in the Kingdom. Following its announcement at the Saudi Industry Forum 2025 in June, the program is now open to investors. It aims to attract new industrial investments and strengthen the global competitiveness of Saudi-made products. Investment Opportunities A notable feature of this batch is the promotion of more than 140 investment opportunities across priority sectors outlined in the National Industrial Strategy. These opportunities focus on fostering innovative, high-quality projects that support sustainable growth. Details are available at: Opportunities PDF. Strategic Alignment The Standard Incentives program aligns with the National Industrial Strategy and the National Investment Strategy, advancing priority industrial sectors and creating new avenues for high-value investments. Applications for the second batch will remain open until mid-November. Domestic and international investors can apply through the official Senaei platform. More information on the investor journey in Saudi Arabia is available at Invest Saudi. Related Topics Neom Invests $100 Mln in Self-Driving Vehicles Saudi Arabia Gearing Up to produce 10,000 vehicles in 2023 Saudi Aramco plans to manufacture hydrogen-powered vehicles Short link : Post Views: 170 Related Stories
Argaam
7 hours ago
- Argaam
2P ups credit facility deal with ANB by SAR 135M
Perfect Presentation for Commercial Services Co. (2P) increased a Shariah-compliant credit facility deal with Arab National Bank (ANB) at a value of SAR 135 million, according to a Tadawul statement today, Aug. 20. The financing, whose term extends to Aug. 20, 2026, is secured by promissory notes to the total facility amount. The financing will be utilized for new awarded projects and issuing letters of guarantees as well as letters of credit and invoice financing, the statement added.
Argaam
16 hours ago
- Argaam
AOL obtains SAR 11M credit facilities from Alinma Bank
Academy of Learning says credit facilities from Alinma Bank span 5 years Academy of Learning Co. (AOL) obtained Shariah-compliant credit facilities from Alinma Bank, valued at SAR 11 million. The company said in a statement on Tadawul that the financing was obtained on Aug. 19, 2025, and extends for a period of five years. The amount is covered by a guarantee pursuant to a fine and solidarity bond declaration from the Chairman, in addition to a promissory note. The company aims to use these facilities for expansion and to increase its revenue in the coming period, in line with its strategy and plans, the statement added. AOL further clarified that there are no related parties.
