Osool & Bakheet Renews SAR 50 Million Loan Agreement with BSF

Osool & Bakheet Co. announced on Monday the renewal of the Loan agreement that is compatible with Sharia controls with Banque Saudi Fransi (BSF) for 50 million riyals.

The financing duration continues until August 06, 2025, in exchange for a promissory note guarantee submitted by the Company for the total loan value.

The purpose of this agreement is to finance Tawarruq and/or issue letters of for Islamic payment guarantees.

The Company stated that the procedures were completed and the agreement was signed on Oct. 20, 2024, explaining that there are no liabilities/amounts outstanding on the loan agreement as of the renewal date.