Riyadh - Mubasher: Dr Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care) secured Sharia-compliant credit facility deals with the Saudi Awwal Bank (SAB) and the Saudi National Bank (SNB) at a combined value of SAR 720 million.

The group obtained a short-term loan valued at SAR 150 million from SAB to finance its working capital requirements.

SNB granted Fakeeh Care SAR 270 million in long-term financing and SAR 300 million in short-term facilities to support its expansion and growth plans.

The two facility agreements, penned on 3 September, were guaranteed with a corporate promissory note only.

Last June, the medical group obtained a SAR 938 million loan from Alinma Bank.