On July 28, 2026, Professional Medical Expertise Company (ProMedEx) announced the renewal and increase of its Shariah-compliant credit facilities provided by Saudi Awwal Bank, pursuant to a Facility Renewal Offer Letter dated June 30, 2026, with the agreement formally signed on July 27, 2026. The aggregate facility limit has been raised from SAR 45,000,000 to SAR 60,000,000, representing an increase of SAR 15,000,000, or 33.33% of the previous limit, secured by a promissory note of SAR 60,000,000. The facilities, valid for one year from the date of the Facility Offer Letter, will be used to finance local and import goods purchases, letters of credit, import bills, bank guarantees, and standby letters of credit, with the overall objective of funding existing projects and supporting the expansion of the company's business operations.

Original announcement:

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