The Saudi Arabia-based Pan Gulf Marketing Company has secured a 70 million Saudi riyal ($18.66 million) Shariah-compliant facility from Saudi Awwal Bank (SAB).

The one-year facility will be used to boost its working capital, issue government and non-government guarantees and letters of credit.

The facility is guaranteed by a promissory note.

In October 2024, the company secured Shariah-compliant credit facilities of SAR 135 million from Banque Saudi Fransi to support its working capital needs.

(Editing by Brinda Darasha; brinda.darasha@lseg.com)