Almajed Oud executes SAR 200M Islamic facility agreement with Al Rajhi Bank

Almajed Oud Co. activated on Oct. 16 a Shariah-compliant credit facility agreement inked with Al Rajhi Banking & Investment Corporation for SAR 200 million, according to a statement to Tadawul.

The 12-month, renewable deal is guaranteed by a forward-sale agreement and a promissory note.

The company aims to use the funds to support its operational activities and strengthen its financial position in line with its strategic plans for growth and expansion.

The company announced that the facility agreement, dated Aug. 25, 2025, does not include any related party.