SAUDI ARABIA: Saudi fintech Tamara, which offers Shariah compliant solutions, has secured an asset-backed facility worth up to US$2.4 billion – the largest of its kind in the region – from financial institutions including Goldman Sachs, Citi and Apollo Funds. The transaction refinances and upsizes a prior US$500 million asset-backed facility arranged by Goldman Sachs.
The deal includes an initial US$1.4 billion with an additional US$1 billion available for a three-year period, pending further approvals. The funds will support Tamara’s expansion into new credit and payment products.
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