KEC gets SAR 150M financing from BSF

04:46 PM (Mecca time) Argaam
Logo ofKnowledge Economic City (KEC)

Logo of Knowledge Economic City (KEC)

Knowledge Economic City (KEC) obtained today, Jan. 29, a SAR 150 million Shariah-compliant financing facility from Banque Saudi Fransi (BSF).

 

The company will use the funding to finance an infrastructure project for the Islamic World District (IWD) development.

 

The company noted that the four-year financing is secured by land mortgages and promissory notes. Additionally, it confirmed that no related parties were involved in the transaction.

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