Riyadh – Mubasher: Axelerated Solutions for Information and Communication Technology Company announced it has renewed a Sharia-compliant banking facilities agreement with Saudi Awwal Bank (SAB) at a total value of SAR 70 million.
The financing renewal was secured on 30 June 2026 and is intended to support the company’s strategic operations and project pipeline, according to a bourse filing.
The credit facility is scheduled to remain in effect until 20 August 2027.
According to the regulatory filing, the primary objective of the funding is to finance new project contracts and facilitate the issuance of letters of credit and bank guarantees required for the company's business activities.
As security for the financing, the company has provided a promissory note covering the total value of the credit facility agreement.
Axelerated Solutions confirmed that there are no related parties involved in this transaction. The agreement aligns with the company's financial strategy to maintain liquidity for its ongoing and upcoming technological infrastructure projects.
