Riyadh – Mubasher: Axelerated Solutions for Information and Communication Technology Company has renewed a Sharia-compliant banking facility agreement with Banque Saudi Fransi at a total value of SAR 30 million.

The financing agreement was finalized on 27 August 2026 and is scheduled to remain in effect until 27 August 2027, according to a bourse filing.

The company stated that the primary objective of the credit facility is to provide necessary funding for new project contracts.

Additionally, the capital will be utilized to facilitate the issuance of letters of credit and bank guarantees required for its operations.

As security for the financing, the company has provided a promissory note equivalent to the total value of the credit facility agreement.

Axelerated Solutions confirmed that there are no related parties involved in this transaction.

The listed company further noted that the renewal ensures the company maintains its liquidity position to support ongoing and future infrastructure and technology projects within the Kingdom.