Riyadh — Mubasher: International Human Resources Company has finalized the renewal and amendment of a Sharia-compliant credit facility agreement with Al Rajhi Bank totaling SAR 30 million.
The company received the final signed agreement on 4 October 2026, following an initial funding date of 23 August.
The facility, which has a duration of one calendar year, is allocated to support the company’s operational requirements.
Specifically, SAR 27.50 million is designated for working capital needs, while SAR 2.50 million will cover the issuance of letters of guarantee for various contracts and projects.
Under the amended terms, the company secured a reduction in administrative fees from 1.50% to 0.75%. Additionally, the annual profit margin added to the three-month SAIBOR rate was lowered from 3.50% to 2.50%.
To secure the financing, International Human Resources provided a promissory note valued at SAR 30.50 million. The agreement also includes the assignment of project revenues covering 125% of the facility value.
The transaction was conducted within the normal course of business under prevailing commercial terms without preferential conditions.
The Tadawul-listed company inked a SAR 55.56 million contract with the National Water Company (NWC) for the provision of manpower services.
