Riyadh - Mubasher: Saudi Energy Company has secured a Sharia-compliant Murabaha financing facility totaling SAR 15.80 billion on 27 July 2026.

The agreement involves a consortium of seven major Saudi financial institutions, including Saudi National Bank (SNB), Al Rajhi Bank, Saudi Awwal Bank (SAB), Banque Saudi Fransi, Arab National Bank (ANB), Riyad Bank, and the Saudi Investment Bank (SAIB).

The financing carries a duration of seven years from the date of the agreement and was obtained without providing any guarantees.

The company intends to utilize the loan in funds for general corporate purposes.

Saudi Energy identified related party interests in the transaction, noting that SNB is a participant and that board member Khalid Salem Al Ruwais also serves on the board of SAIB.

No further financial details regarding the terms of the Murabaha facility were disclosed.

As of 31 March 2026, the group’s net profits attributable to the shareholders hiked by 89.35% year-on-year (YoY) to SAR 1.83 billion from SAR 968 million.