Academy of Learning Obtains SAR 15 mln Credit Facilities from Alinma Bank

Academy of Learning Company announced on Monday that it has obtained Shariah-compliant credit facilities from Alinma Bank amounting to SAR 15 million.

The company said in a statement on Tadawul that the financing term is five years, noting that the guarantees provided for the financing consist of a promissory note submitted by the company to the bank and a joint liability guarantee from the chairman of the board of directors.

According to the announcement, the company aims to obtain these facilities to expand and increase its revenues for the coming period, in line with its strategy and future plans.