Al Rasheed upsizes SAB facilities by SAR 100M

Logo of Mohammed Hadi Al Rasheed and Partners Co. (Al Rasheed)

Mohammed Hadi Al Rasheed & Partners Co. obtained on July 28 the approval of Saudi Awwal Bank (SAB) to increase the total value of its Shariah-compliant credit facilities to SAR 172.39 million, compare to the previously announced SAR 72.39 million.

The company has provided the required collateral by way of a promissory note in the amount of SAR 158.11 million, representing the value of the increase and the outstanding balance of the previous facilities, according to a statement to Tadawul.

The purpose of the financing is to support the company's operational and expansion activities through financing its assets and completing its acquisition of Taif Co. A total of SAR 40 million was allocated for asset financing and SAR 60 million specifically for the acquisition of Taif Co.

As per Argaam’s data, Al Rasheed obtained credit facilities worth SAR 72.39 million from SAB in August 2026.