PGM Secures SAR 70 Million in Banking Facilities

Pan Gulf Marketing Company announced that it has secured Sharia-compliant banking facilities from Saudi Awwal Bank to finance working capital in the amount of SAR 70 million. The facility will be used to issue all types of government and non-government guarantees, letters of credit, and working capital financing.

The company stated in a statement today on Tadawul that the guarantees provided for the financing consist of a promissory note and a guarantee for the facility amount.