Riyadh – Mubasher: Saleh Abdulaziz AlRashed & Sons Company inked a Sharia-compliant banking facility agreement with Al Rajhi Bank totaling SAR 200 million.
The financing, secured on 29 September 2026, is intended to provide the necessary funding to support the company’s working capital requirements, operational activities, and future expansion plans.
Under the terms of the agreement, the facility duration extends from 29 September until 31 October 2027. The company provided a promissory note as a guarantee for the credit facility.
The management stated that the primary objective of obtaining these facilities is to enhance financial flexibility and ensure the availability of liquidity required to meet funding demands.
This move aligns with the company’s broader growth strategy and operational goals for the upcoming period. The company confirmed that there are no related parties involved in this transaction.
In the first half (H1) of 2026, the company’s net profits declined by 61.97% year-on-year (YoY) to SAR 15.65 million from SAR 41.15 million.
