Professional Medical Expertise Co. Announces Obtaining a Renewal of the Islamic Facilities Agreement
| Element List | Explanation |
|---|---|
| Introduction | Professional Medical Expertise Company, also Trading as (“ProMedEx”) announces the renewal of the Islamic facilities agreement with Riyad Bank, with a total value of SAR 84,000,000 (eighty-four million Saudi riyals), as detailed below: 6,500,000 SAR in bank guarantee facilities 22,500,000 SAR in letter of credit facilities 55,000,000 SAR as a tawarruq limit The company aims to use these facilities to finance its existing projects and support its business expansion plans. |
| Date of obtaining the funding | 2026-04-08 Corresponding to 1447-10-20 |
| Financing entity | Riyad Bank |
| Financing amount. | 84,000,000.00 SAR (eighty-four million Saudi Riyals) |
| Financing duration. | One year from the date of the facilities document |
| Guarantees offered for the financing | Promissory note from Professional Medical Expertise Company. Promissory note from Alomran Holding Company. |
| Financing objective | The financing is intended to fund the company’s existing projects and support the expansion of its business operations. |
| Related Parties | There are no related parties |
| Additional Information | The agreement is dated 15 February 2026; however, the signatures were completed and the facilities were activated on 8 April 2026. |
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