AOL secures SAR 15M credit facilities from Alinma Bank
Academy of Learning Co. (AOL) obtained SAR 15 million Shariah-compliant credit facilities from Alinma Bank.
In a statement to Tadawul, the company said that the funding period is five years starting from May 25, 2025.
The amount is covered by a guarantee pursuant to a fine and solidarity bond declaration from the Chairman of the board of directors and a promissory note submitted by AOL to the bank.
AOL aims to obtain these facilities in order to expand and increase its revenues in the upcoming period, in line with its strategy and future plans, the statement added, indicating that no related parties are included in the deal.
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