Riyadh – Mubasher: Saudi AZM for Communication and Information Technology Company has obtained a Sharia-compliant credit facility from the Saudi Investment Bank (SAIB) at a total value of SAR 75 million, according to a bourse filing.
The agreement is specifically designed to bolster the company’s operational capacity by providing the necessary financial instruments for project guarantees and the management of working capital requirements.
The credit facility was obtained on 20 May 2026, holding a short-term duration of one year from the date of signing.
To secure the financing, Saudi AZN provided a promissory note to SAIB, a standard guarantee mechanism for corporate credit lines in Saudi Arabia.
The company further noted that the transaction was conducted without any related party involvement, ensuring that the terms were established on an independent, commercial basis.
During the nine-month period, which ended on 31 March 2026, Saudi AZM delivered net profits of SAR 34.74 million and revenue worth SAR 220.40 million.
