Riyadh - Mubasher: Amlak International for Real Estate Finance has renewed and amended a Sharia-compliant credit facility agreement with the Saudi Investment Bank (SAIB) valued at SAR 664.5 million.
The one-year credit facility is guaranteed by an assignment of accounts receivable to the bank and a promissory note in favour of the bank, according to a bourse filing on Wednesday.
Moreover, it will facilitate Amlak International’s business and increase its ability to finance its clients.
Amlak International is a 32.01%-owned subsidiary of SAIB.
