Pan Gulf Secures SAR 70 Million Banking Facilities from Saudi Awwal Bank

Pan Gulf Marketing Co. disclosed on Monday its successful acquisition of banking facilities compatible with Islamic Sharia provisions from Saudi Awwal Bank, totaling SAR 70 million. The arrangement includes a promissory note and a corporate guarantee for the facility amount.

According to the company’s statement, the objective of this financing is to facilitate Islamic financing agreements to issue various types of governmental and non-governmental guarantees, letters of credit, and working capital financing.