Fakih Medical signs 1.25B Riyal Sharia-compliant deal
Dr. Sulaiman AbdulQader Faqih Hospital Company, also known as Faqih Medical, has signed a financing facility agreement with the National Commercial Bank of Saudi Arabia valued at 1.25 billion Saudi Riyals, aimed at supporting the expansion and growth plans of Faqih Healthcare Group. The financing includes 1 billion Riyals on a long-term basis and 250 million Riyals on a short-term basis, and is structured to comply with Islamic Shariah principles. Additionally, Faqih Medical has entered into another agreement with the First Saudi Bank worth 950 million Riyals to enhance funding for its expansion plans.
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