Derayah said the deal was signed and became effective on June 25
Derayah Financial Co.signed a Shariah-compliant credit facility agreement worth SAR 300 million with Arab National Bank (ANB). 
The company said in a Tadawul statement that the facility is secured by a promissory note.
Derayah added that there are no related parties to the deal, which was signed and became effective on June 25. The extendable facility will remain available until Oct. 31.
The company said the financing will be used to support its core operating activities, including expanding its brokerage business and strengthening its product offering.
Derayah Financial also renewed its existing SAR 54 million Shariah-compliant credit facility with ANB. As a result, the bank’s total credit facilities extended to the company increased to SAR 354 million.
Derayah said the deal was signed and became effective on June 25
Derayah Financial Co.signed a Shariah-compliant credit facility agreement worth SAR 300 million with Arab National Bank (ANB).
The company said in a Tadawul statement that the facility is secured by a promissory note.
Derayah added that there are no related parties to the deal, which was signed and became effective on June 25. The extendable facility will remain available until Oct. 31.
The company said the financing will be used to support its core operating activities, including expanding its brokerage business and strengthening its product offering.
Derayah Financial also renewed its existing SAR 54 million Shariah-compliant credit facility with ANB. As a result, the bank’s total credit facilities extended to the company increased to SAR 354 million.
