Nomu-listed Axelerated Solutions for Information and Communication Technology has renewed Sharia-compliant banking facilities agreement with Saudi Awwal Bank (SAB) worth 70 million riyals ($18.7 million).

The one-year facilities are earmarked for financing new project contracts as well as the issuance of letters of credit and letters of guarantee.

(Writing by Ahmad Mousa; editing by Daniel Luiz)
Ahmad.mousa@lseg.com