Arab Sea secures SAR 26M credit facilities from Riyad Bank

Arab Sea Information Systems Co. secured on Aug. 5 Shariah-compliant credit facilities worth SAR 26 million from Riyad Bank.

In a statement published today on Tadawul, the company said the facilities are intended to support Arab Sea’s expansion in government projects as part of efforts to boost revenue.

The financing term is five years, with collateral consisting of a promissory note and a mortgage.

Arab Sea affirmed that no related parties are involved.