| Element List | Explanation |
|---|---|
| Introduction | SHL Finance Company announces the renewal of a Sharia-compliant credit facility agreement with Arab National Bank (Related Party) |
| Date of obtaining the funding | 2026-07-13 Corresponding to 1448-01-28 |
| Financing entity | Arab National Bank |
| Financing amount. | 1,817,854,000 one billion eight hundred seventeen million eight hundred fifty-four thousand Saudi Riyals |
| Financing duration. | 5 Years |
| Guarantees offered for the financing | A promissory note Receivables provided to the bank as security |
| Financing objective | The purpose of renewing 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 | Mr. Obaid Abdullah Alrasheed the Managing Director and the Chief Executive Officer of the Arab National Bank has indirect interest in the transaction. |
| Additional Information | The company confirms that the agreement is a continuous transaction that is renewed annually and is carried out in the normal course of business and in accordance with prevailing commercial conditions and without any preferential terms. |
SHL Finance Company announces the renewal of a Sharia-compliant credit facility agreement with Arab National Bank (Related Party)
AI Summary
- SHL Finance Company has renewed a Sharia-compliant credit facility agreement with Arab National Bank, a related party, for a total amount of SAR 1,817,854,000.
- The financing has a duration of five years and is secured by a promissory note and receivables provided to the bank.
- The facility is intended to fund the expansion of the company’s sales volume through the origination of new loans to customers.
- The transaction was conducted under normal commercial conditions without preferential terms, involving an indirect interest by Mr. Obaid Abdullah Alrasheed, the Managing Director and CEO of Arab National Bank.
