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2026-11-02T13:23:08.975Z

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FIPCO renews credit deal

FIPCO renews credit deal

Packaging materials manufacturer FIPCO renewed a Sharia-compliant credit facilities agreement with Riyad Bank worth SAR 43.61 million. The final procedures were completed on November 2, 2026. The facilities are intended to finance working capital and operating activities, as well as upgrades to certain machinery and equipment, with terms ranging from 12 to 48 months. FIPCO provided promissory notes as security for the facilities and confirmed that no related parties are involved in the agreement.

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