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Saudi Cable Company Announces the Signing of a Shari'ah-Compliant Credit Facilities Agreement with The Saudi Investment Bank
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Cable Company announces the signing of a Shariah-compliant credit facility agreement (Murabaha for the financing of the purchase and sale of goods) with The Saudi Investment Bank. |
| Date of obtaining the funding | 2026-07-21 Corresponding to 1448-02-07 |
| Financing entity | The Saudi Investment Bank |
| Financing amount. | 20,000,000 (twenty million) Saudi riyals. |
| Financing duration. | The Credit Facility Agreement expires on 31/05/2027 and can be renewed under a written agreement signed by both parties |
| Guarantees offered for the financing | First: Bonds for an order submitted by: 1. Mr. Turki bin Ibrahim bin Mansour Al-Rajhi. 2. Eng. Faris bin Mansour bin Mohammed Al-Rajhi. Second: Assign to the Saudi Investment Bank the future dividend proceeds payable to Saudi Cable Company from Medal Cable Company as collateral in the event of failure to pay the outstanding amount within the limits of the value of the credit facilities |
| Financing objective | Financing and supporting the strategic operational plans |
| Related Parties | 1. Mr. Turki bin Ibrahim bin Mansour Al-Rajhi (Non-Executive Board Member). 2. Eng. Faris bin Mansour bin Mohammed Al-Rajhi (Executive Board Member). |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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