Riyadh – Mubasher: Prefect presentation for commercial services Company (2P Prefect Presentation) has signed a Sharia-aligned increase facility agreement with Riyad Bank on 10 July 2024.

The facility agreement holds a value of SAR 121 million secured by promissory notes equivalent to the amount of total facilities limit, according to a bourse filing.

2P Prefect Presentation will use the obtained amount to fund the contract covering the operation of the Contact Center (937) with the Ministry of Health.

Moreover, the increase facility agreement is valid until 10 July 2025.

Earlier in 2024, the company signed a SAR 135 million agreement with Alinma Bank in addition to increasing and extending a Sharia-compliant bank facility deal with Saudi Awwal Bank (SAB) at a value of SAR 80 million.

Meanwhile, Riyad Bank posted net profits worth SAR 2.07 billion in the first quarter (Q1) of 2024.