Accelerated Solutions renews SAR 58.27m credit facility with Riyad Bank
Accelerated Solutions has renewed and increased its Shariah-compliant credit facility agreement with Riyad Bank to SAR 58.27 million.
Key Takeaways
AIAccelerated Solutions for Communications and Information Technology announced the renewal and increase of its Shariah-compliant banking facility agreement with Riyad Bank, valued at 58.27 million riyals (SAR).
The company stated that the agreement includes providing a promissory note equivalent to the value of the credit facility as collateral for the financing.
Accelerated Solutions explained that the facility aims to finance new project contracts, issue letters of credit and guarantees, and support payroll financing.
The company noted that the facility was obtained on August 23, 2026, and will remain valid until August 23, 2027, confirming that there are no related parties involved in the agreement.