Latest news with #TheSaudiInvestmentBank
Argaam
26-03-2025
- Business
- Argaam
Knowledge City secures SAR 150M financing from SAIB
Knowledge Economic City Co. (KEC) secured on March 25 Shariah-compliant financing worth SAR 150 million from The Saudi Investment Bank (SAIB). The loan term is four and a half years. It will be used to finance working capital to implement the company's strategy, KEC said in a statement to Tadawul. Land plots were mortgaged, and some promissory notes were provided as collateral for the financing.
Argaam
17-03-2025
- Business
- Argaam
Shalfa signs SAR 75M credit facilities with SAIB
Shalfa Facilities Management Co. signed on March 16 a Shariah-compliant credit facilities agreement worth SAR 75 million with The Saudi Investment Bank (SAIB). The financing period will end on Feb. 28, 2026, and will be covered by a promissory note, the company said in a statement on Tadawul. The facility aims to issue initial guarantees, performance guarantees, advance payment guarantees, financing for project progress claims, site preparations, and documentary credit letters.
Argaam
11-03-2025
- Business
- Argaam
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.
