The Saudi Industrial Development Company (SIDC) announced on Sunday that its subsidiary, Global Company for Marketing Sleeping Systems (Sleep High), has signed a Sharia-compliant credit facilities agreement with Riyadh Bank.
The agreement, valued at SAR 9 million, is set for a one-year term and is intended to finance the subsidiary’s working capital.
In a statement on Tadawul, the company detailed the guarantees provided for the financing:
- A promissory note.
- A guarantee under the Kafalah Program.
- Joint liability performance from the Saudi Industrial Development Company (SIDC).
