On August 24, 2026, Axelerated Solutions for Information and Communication Technology Co. announced the increase and renewal of an Islamic Sharia-compliant banking facilities agreement with Riyadh Bank, effective August 23, 2026. The total financing amount stands at SAR 58,270,000, with the facility valid until August 23, 2027. The agreement is secured by a promissory note equivalent to the value of the credit facilities, and proceeds will be used to finance new project contracts, issue letters of credit and guarantees, and support payroll financing.

Original announcement:

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