Amlak International for Real Estate Finance Co. Announces the renewal of a credit facility agreement with Saudi investment bank ( related party).
| Element List | Explanation |
|---|---|
| Introduction | Amlak International Real Estate Finance Company announces the renewal and amendment of the credit facility agreement (Sharia-compliant) with the Saudi Investment Bank. |
| Date of obtaining the funding | 2022-02-28 Corresponding to 1443-07-27 |
| Financing entity | Saudi Investment Bank |
| Financing amount. | 664,500,000 SAR |
| Financing duration. | one Year |
| Guarantees offered for the financing | - Assignment of accounts receivable to the bank.
- Promissory Note in favor of the bank |
| Financing objective | Facilitating the company's business and increasing its ability to finance its clients. |
| Related Parties | The Saudi Investment Bank - one of the major shareholders - has a direct interest in this agreement.
There is also an indirect interest in this agreement with :
1- Mr. Majed Abdulghani Fakeeh, General Manager of Corporate Banking at Saudi Investment Bank.
2- Mr. Khalid bin Abdulaziz Al-Rayes, Chief Executive Officer of Al-Istithmar capital company which is100% owned by the Saudi Investment Bank. |
| Additional Information | The Company confirms that no preferential treatment was given on this agreement and it is within the usual business activity. |
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