Riyadh - Mubasher: Academy of Learning Company has obtained credit facilities compliant with Islamic Sharia provisions from Riyad Bank at a total value of SAR 113.75 million.
The facilities hold a duration of up to six years, including a one-year grace period, from the date they were obtained on 15 April 2026, according to a bourse filing.
The financing is guaranteed by a joint and several guarantee declaration from the board’s Chairman, in addition to a promissory note submitted by the company to the bank.
Meanwhile, the company stated that the proceeds will be used to support the expansion of its future projects in line with its strategic growth plans.
During the first half (H1) of fiscal year (FY) 2025/2026, Academy of Learning logged 18.12% year-on-year (YoY) higher net profits at SAR 14.24 million, compared to SAR 12.05 million.
