Sulaiman Al Habib secures SAR 1.3B loan from Al Rajhi Bank

Dr. Sulaiman Al Habib Medical Services Group Co. signed today, Sept. 29, a Sharia-compliant banking facilities agreement with Al Rajhi Bank worth SAR 1.3 billion, according to a statement to Tadawul.

The facility has a 13-year term, secured by a promissory note for the full value, the statement added.

The loan will be used to finance the group's projects, including Sehat Al Hamra Hospital, Women’s Health Hospital, Sehat Alkharj Hospital, and the medical centers affiliated with Al Marakez Al Awwalyah for Healthcare Co.

Sulaiman Al Habib said that that there are no related parties to the deal.