Saudi-listed SHL Finance Company has secured around SAR 311.9 million ($83 million) shariah-compliant financing from Al Bilad Bank.

The funding will be used to expand and increase SHL Finance Company’s sales volume, the filing stated.

SHL offers SME, real estate and consumer financing.

The company has recently renewed its credit facility agreement with Arab National Bank worth around SAR 2 billion.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com