Bidaya Finance Company announces the renewal of a Shari'a-compliant credit facility agreement with Al Rajhi Bank

AI Summary

Bidaya Finance Company has renewed a Shari'a-compliant credit facility agreement with Al Rajhi Bank for a total amount of SAR 750 million.
The financing has a duration of five years and is secured by a promissory note and the assignment of acceptable receivables proceeds.
The facility is intended to expand the company's sales volume through the origination of new loans to customers.
The agreement was finalized on August 3, 2026, and is conducted under ordinary commercial terms without preferential treatment.

Element List	Explanation
Date of obtaining the funding	2026-08-03 Corresponding to 1448-02-20
Financing entity	Al Rajhi Bank
Financing amount.	SAR 750 million
Financing duration.	5 Years
Guarantees offered for the financing	A promissory note Assignment of acceptable receivables proceeds
Financing objective	The purpose of this facility is to expand and increase the company's sales volume through new originated loans to its customers, in line with the company's strategy and future plans.
Related Parties	N/A
Additional Information	The Company confirms that the Agreement is an ongoing transaction and is carried out in the ordinary course of business and in accordance with the prevailing commercial terms and without any preferential terms.