Riyadh — Mubasher: Wajd Life Trading Company recently secured a Sharia-compliant credit facility agreement amounting to SAR 20 million with Al Rajhi Bank, according to a bourse filing.

The financing agreement was officially signed and approved on 10 August 2026 and is intended to support the company’s general working capital requirements and operational needs.

According to the regulatory filing, the facility has a duration of one year and is renewable.

Wajd Life will utilize the funds to finance project extracts and issue guarantees for projects assigned to Al Rajhi Bank, subject to the assignment of proceeds in favor of the lender.

The credit facility is secured by a performance and payment guarantee, alongside personal promissory notes signed by the Chairman of the Board, the CEO, and other board members.

Wajd Life confirmed that the agreement constitutes a continuous transaction conducted within the ordinary course of business.

The company further noted that there are no related parties involved in the transaction.