Dar Al Balad for Business Solutions Company announces that it has signed a Shariah-compliant credit facilities agreement with the Saudi National Bank (SNB) for a total amount of SAR 20 million
| Element List | Explanation |
|---|---|
| Introduction | Dar Al Balad for Business Solutions Company announces that it has signed a Shariah-compliant credit facilities agreement with the Saudi National Bank (SNB) for a total amount of SAR 20 million. The facilities will be utilized to finance bid bonds and performance bonds, as well as to support the Company's working capital requirements. |
| Date of obtaining the funding | 2026-06-25 Corresponding to 1448-01-10 |
| Financing entity | Saudi National Bank |
| Financing amount. | 20 Million SAR |
| Financing duration. | Till 30 April 2027 |
| Guarantees offered for the financing | Promissory Notes. • A joint and several guarantee for payment and performance. • Assignment of proceeds generated from the Company's projects in favor of the Bank |
| Financing objective | The facilities will be utilized to finance bid bonds and performance bonds, as well as to support the Company's working capital requirements. |
| Related Parties | The major shareholder, Dar Al Balad Commercial Company, has provided a joint and several guarantee for payment and performance in favor of the Bank |
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