Logo of Saudi Advanced Industries Co. (SAIC)

Saudi Advanced Industries Co. (SAIC) secured Shariah-compliant credit facilities worth SAR 100 million, at a competitive rate, from Al Rajhi Capital, according to a statement to Tadawul today, July 18.

The facilities are aimed at expanding the company’s investments.

The funding term is one year, guaranteed by a promissory note, the company said, adding that there are no related parties.