Announcement by the International Company for Human Resources regarding the renewal and amendment of a Sharia-compliant credit facility agreement with Al Rajhi Bank.
| Element List | Explanation |
|---|---|
| Introduction | International Human Resources Company announces the renewal and amendment of a Sharia-compliant credit facility agreement with Al Rajhi Bank. |
| Date of obtaining the funding | 2026-08-23 Corresponding to 1448-03-10 |
| Financing entity | Al Rajhi Bank |
| Financing amount. | 30 million Saudi riyals |
| Financing duration. | One year |
| Guarantees offered for the financing | Promissory note for the amount of 30,503,940 riyals - waiver of project revenues covering 125% of the financing |
| Financing objective | SAR 27,500,000 Working Capital Requirements Financing - SAR 2,500,000 covers the issuance of letters of guarantee required for contracts and projects, and supports related needs. |
| Related Parties | Not applicable |
| Additional Information | The Company confirms that the agreement involves ongoing transactions conducted in the ordinary course of business, based on prevailing commercial terms, and without any preferential conditions. The Company received the final agreement on October 4, 2026. The Company clarifies that this agreement represents a renewal of existing credit facilities with the bank, while maintaining the credit limit unchanged at SAR 30 million. The agreement includes a reduction in administrative fees from 1.50% to 0.75% and a reduction in the annual profit margin—added to the 3-month SAIBOR rate—from 3.50% to 2.50%. |
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