Saudi Azm renews SAR 22 mln credit facility agreement with BSF

Logo of Saudi Azm for Communication and Information Technology Co.

Nomu-listed Saudi Azm for Communication and Information Technology Co. renewed a Sharia-compliant banking facility agreement worth SAR 22 million with Banque Saudi Fransi. 

 

In a statement to Tadawul, the company pointed out that the one-year agreement will expire on April 5, 2024, noting that a promissory note was provided as a guarantee. 

 

The deal aims to finance the company’s working capital requirements, new projects and issuance of letters of guarantee and credits. 

 

There are no related parties to the agreement, the statement added. 

 

The agreement was signed and a true copy thereof was received after the end of business day on May 31. 

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