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Naf Co. for Feed for Industry has secured Shariah-compliant credit facilities totaling SAR 10 million from Al Rajhi Bank to fund its operational working capital requirements. According to a regulatory filing on Tadawul, the financing will be repaid in 24 monthly installments beginning November 25, 2026, and concluding on October 25, 2028. The total financing profit payable to Al Rajhi Bank stands at SAR 1.52 million.
To secure the credit facility, the company provided a promissory note valued at SAR 11.52 million alongside a personal performance guarantee and undertaking from the Chairman of the Board, Fayez Al Harbi. This guarantee covers all financial commitments to the bank, including the principal loan amount, accumulated profits, and any associated fees or financial expenses throughout the duration of the agreement.
This corporate financing agreement highlights ongoing credit expansion within Saudi Arabia's industrial and corporate sectors, driven by active banking operations. Market observers will watch how effectively Naf Co. utilizes the working capital to enhance its manufacturing operations and whether the additional profit expense impacts the company's long-term profitability metrics on the Nomu Parallel Market.
