Academy of Learning secures credit line from Riyad Bank
Summary
Riyadh Academy of Learning Company has obtained a Sharia-compliant credit line amounting to SAR 22 million from Riyad Bank.The company secured the three-month funding on 22 June 2023, according to a bourse filing.Academy of Learning aims to finance future expansion works for its branches in Riyadh, Khobar, and Dammam cities.The credit line has three types of guarantees; a promissory note submitted by the company to Riyad Bank, a mortgage on a SAR 50 million bank deposit, and a solidarity guarantee from Academy of Learnings Chairman.It is worth noting that the Saudi lender provided a Sharia-aligned facility to the listed Perfect Presentation for Commercial Services Company (2P) earlier in 2023.All Rights Reserved - Mubasher Info \xa9 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).