National Environmental Recycling Co. Announces Obtaining a Shariah-compliant bank facility agreement

AI Summary

National Environmental Recycling Co. (Tadweeer) signed a Sharia-compliant credit facility agreement with Saudi National Bank (SNB) for SAR 60,000,000.
The financing has a 12-month duration and is secured by a promissory note.
The facility aims to reduce high-cost financing and provide for working capital needs.
The funding agreement was finalized on June 21, 2026.

Element List	Explanation
Introduction	National Environmental Recycling Co. "Tadweeer" announces the signing of a Sharia-compliant credit facility agreement with SNB for the purpose of reducing high-cost financing facilities and providing working capital needs for the remaining amount
Date of obtaining the funding	2026-06-21 Corresponding to 1448-01-06
Financing entity	Saudi National Bank
Financing amount.	60,000,000 Saudi Riyals
Financing duration.	12 Months
Guarantees offered for the financing	Promissory note
Financing objective	Reducing high-cost financing facilities and providing working capital needs for the remaining amount
Related Parties	N/A
Additional Information	Any major development related to the financing facilities will be announced in accordance with the relevant regulations and instructions