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Articles > Axelerated Solutions Renews SAR 30 Million Sharia-Compliant Financing Agreement with Banque Saudi Fransi

Axelerated Solutions Renews SAR 30 Million Sharia-Compliant Financing Agreement with Banque Saudi Fransi

By KlickAnalytics Data Insights  |   August 31, 2026 06:04PM ET

- The Sharia-compliant banking facility agreement between Axelerated Solutions and Banque Saudi Fransi has been renewed for a total value of SAR 30 million.
- The financing agreement, finalized on August 27, 2026, will be in effect until August 27, 2027, as per a bourse filing.
- The purpose of the credit facility is to provide funding for new project contracts and issuance of letters of credit and bank guarantees.

In a recent development, Axelerated Solutions for Information and Communication Technology Company has renewed a Sharia-compliant banking facility agreement with Banque Saudi Fransi, totaling SAR 30 million. This financing agreement, which was finalized on August 27, 2026, will be effective until August 27, 2027, according to a bourse filing by the company. The main objective of this credit facility is to secure essential funding for new project contracts and to streamline the issuance of letters of credit and bank guarantees necessary for its operations.

Furthermore, the company has submitted a promissory note as security for the entire value of the credit facility agreement. Axelerated Solutions emphasized that there are no related parties involved in this transaction. This renewal of the financing agreement is aimed at ensuring the company maintains a strong liquidity position to support its ongoing and future infrastructure and technology projects within the Kingdom.
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