solutions subsidiary signs SAR 500M financing deal with Riyad Bank

Arabian Internet and Communications Services Co. (solutions) announced that its subsidiary, Contact Centers Co. (CCC), signed a SAR 500 million Shariah-compliant financing agreement with Riyad Bank.

The one-year agreement was guaranteed by a promissory note signed by CCC, the company said in a statement to Tadawul.

The agreement aims to finance working capital and issue bank guarantees, the statement said, adding that there are no related parties to the deal.