Al-Othaim Investment receives SAR 3 billion finance from SNB

Al-Othaim Investment Company signed an agreement with the Saudi National Bank (SNB) to obtain Sharia-compliant banking facilities worth SAR 3.06 billion to finance its expansion projects. This agreement is part of the existing strategic cooperation partnership between the two parties.

The agreement was signed by Bandar Al-Buhairi, CEO and Managing Director of Al-Othaim Investment, and Nasser Al-Furaih, Head of Corporate Banking, on behalf of SNB. The agreement was attended by Abdullah Al-Othaim, Chairman of the Board of Directors of Al-Othaim Company, and Tariq Al-Sadhan, CEO of the Saudi National Bank.

Bandar Al-Buhairi explained that this agreement falls within the framework of the strategic relationship with the National Commercial Bank as a strategic partner in the company’s major transformation journey, affirming its role as a leading national company in enhancing the private sector’s contributions to supporting the comprehensive development process taking place in Saudi Arabia, in line with the Kingdom’s Vision 2030.