Osool & Bakheet renews SAR 50M Shariah-compliant loan with BSF

Osool & Bakheet Investment Co. renewed a SAR 50 million Shariah-compliant loan agreement with Banque Saudi Fransi (BSF), according to a statement to Tadawul.

The credit facility, which was secured on Aug. 7, 2024, with a maturity date on Aug. 6, 2025, was guaranteed by a promissory note submitted by the company for the total value of the loan

The loan aimed to financing Tawarruq and/or issuing Islamic payment guarantees.

The procedures were completed, and the agreement was signed on Oct. 20, 2024.

There are no related parties to the deal, the statement said, adding that there are no outstanding obligations or amounts based on the facilities agreement or financing agreement.