“Saudi Cables” provides a bank guarantee to the Industrial Development Fund amounting to 106.3 million riyals
The Saudi Cable Company provided a bank guarantee from the Saudi Investment Bank to the Saudi Industrial Development Fund "The box" An amount estimated at 106.35 million riyals, in exchange for the company’s debt to the fund.
According to the company’s statement on the website "Saudi Arabia trading"The guarantee will be liquidated by the Fund in the event that the company does not pay its dues before the date of December 1, 2026, or in the event that the company’s request to increase its capital by offering priority rights is canceled for any reason.
According to the statement, this guarantee will remain valid and effective until the date of 12/25/2026 AD, and it can be extended based on a written request from the Fund for a period not exceeding (365) days from the original date of the expiration of the guarantee or from the expiration date of subsequent extensions,
The Saudi Investment Bank submitted the bank guarantee offer on 01/14/2026 AD, and the Fund agreed to accept the bank guarantee on 08/08/1447 AH, corresponding to 01/27/2026 AD.
She noted the provision of a personal guarantee to the bank by Ibrahim Al Rajhi, a member of the Board of Directors of the Saudi Cable Company.
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