Amlak Approves SAR 864.5 Million Credit Facility Renewal with Related Party

Amlak International Finance Co. announced on Monday that shareholders approved a related-party transaction with Saudi Investment Bank during its Ordinary General Assembly Meeting (first meeting).

The deal involves the renewal of a SAR 864.5 million credit facility for one year. As of year-end 2024, outstanding facilities stood at SAR 801.9 million (excluding profit). No preferential terms apply.

Board members Majed Abdulghani Fakeeh and Khalid bin Abdulaziz Al Rayes have indirect interests. Saudi Investment Bank holds a 22.4% stake in Amlak.