Riyadh - Mubasher: Bidaya Finance renewed its SAR 750 million Sharia-compliant credit facility agreement with Al Rajhi Bank on 3 August 2026, according to a bourse disclosure.
The facility aims to expand and increase the company's sales volume through new originated loans to its customers, in line with the company's strategy and future plans.
Valid for five years, the deal is secured by a promissory note and an assignment of acceptable receivables proceeds.
Bidaya Finance confirms that the agreement is an ongoing transaction and is carried out in the ordinary course of business and in accordance with the prevailing commercial terms and without any preferential terms.
