“Academy of Learning” obtains credit facilities from Albilad Bank worth 30 million riyals

Academy of Learning Company announced that it has obtained credit facilities compatible with the provisions of Islamic Sharia from Albilad Bank worth 30 million riyals.

The company explained that the financing period is 4 years, in exchange for a promissory note guarantee submitted by the company to the bank, in addition to a guarantee under a declaration of a joint liability and performance guarantee from the Chairman of the Board of Directors.

According to the statement published on “Tadawul”, the aim of this agreement is to finance future expansions.