Riyadh — Mubasher: Quara Finance Company has signed an agreement to renew and increase its Sharia-compliant credit facilities with Bank Aljazira.
The existing facility of SAR 100 million has been increased by SAR 50 million, bringing the total value of the financing to SAR 150 million.
The credit facility was signed on 19 July 2026 and carries a duration of five years, according to a bourse filing.
As part of the updated agreement, the company has modified its existing promissory note to a value of SAR 165 million.
Additional guarantees provided for the financing include the assignment of receivables and shareholder guarantees.
Quara Finance stated that the primary objective of securing the additional funding is to facilitate expansion and increase sales volumes in alignment with the company’s future strategic plans.
The company further confirmed that the agreement was conducted within the normal course of business under prevailing commercial terms, without any preferential conditions.
Meanwhile, all other terms and conditions of the original facility remain unchanged.
