Bidaya Finance Company announces the renewal of a Sharia-compliant credit facility agreement with AL Jazira Bank

AI Summary

Bidaya Finance Company renewed a Sharia-compliant credit facility agreement with Al Jazira Bank worth SAR 300 million.
The financing carries a 5-year duration, effective from June 29, 2026.
The credit facility will be used to expand the company's sales volume through the origination of new loans to customers.
The agreement is secured by a promissory note and the assignment of acceptable receivables proceeds.

Element List	Explanation
Date of obtaining the funding	2026-06-29 Corresponding to 1448-01-14
Financing entity	AL Jazira Bank
Financing amount.	300 million Saudi riyals
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.