Amlak signs SAR 250M credit deal with Emirates NBD Saudi Arabia

Amlak International Finance Co. signed on Aug. 26, a Shariah-compliant credit facility agreement with Emirates NBD – Saudi Arabia valued at SAR 250 million.

The company said in a statement on Tadawul that the four-year facility secured by an assignment of receivables to the bank and a promissory note in its favor.

Amlak noted that the financing aims to support its operations and enhance its ability to fund clients.

The company also disclosed an indirect interest for board member Naser Yousef Al Marzooqi, who serves as CEO of Emirates NBD Saudi Arabia.

The agreement falls within the ordinary course of business and does not involve any preferential treatment, it said.