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Al-'Ilm' extends banking deal with Al-Rajhi
Alam Corporation renewed a banking facilities agreement with Al Rajhi Bank valued at 500 million riyals, for a period of 12 months, to enhance its financial flexibility and support its operational capabilities in the Information Technology and digital services sector. The facilities include working capital financing and bank guarantees, with a promissory note provided as collateral. The agreement was made in accordance with Shariah regulations, without any related parties involved, aiming to maintain a strong capital structure and facilitate the management of financial commitments for large projects.
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