Qomel extends over SAR 55.5m credit facility with SNB

QOMEL
9600 -1.62% 36.40 -0.60 SNB
1180 -1.38% 39.90 -0.56

Riyadh — Mubasher: Qomel Company has renewed its Sharia-compliant credit facility agreement with the Saudi National Bank (SNB) valued at SAR 55.63 million.

The financing agreement, which was finalized on 8 September 2026, is scheduled to remain in effect until 30 June 2027.

The company stated that the primary objective of the credit line is to provide necessary funding for its working capital and various corporate projects.

To secure the facility, Qomel has provided a promissory note and the assignment of project proceeds in accordance with the terms of the banking agreement.

According to the regulatory filing, there are no related parties involved in this transaction. The renewal ensures the continued availability of liquidity to support the company's operational activities and strategic project execution over the coming period.

Source: Mubasher Source: {{details.article.source}}