Al Rasheed obtains SAR 72.4M shariah-compliant facility from SAB

Al Rasheed will use the new loan to support its operational and expansion activities

Mohammed Hadi Al Rasheed and Partners Co. announced on Aug. 20 that it obtained Shariah-compliant banking facilities worth SAR 72.39 million from Saudi Awwal Bank (SAB).

 

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In a statement on Tadawul, the company said the financing has a five-year tenor, secured by a promissory note valued at SAR 65 million.

 

The financing is aimed at supporting the company’s operational and expansion activities in line with its strategic plans and contributing to achieving Saudi Arabia’s Vision 2030.

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