DEBT WATCH-

The Saudi Real Estate Company (Al Akaria) lined up a total of SAR 700 mn in shariah-compliant loans with Bank Al Jazira, including a one-year facility and a long-term facility of up to 10 years, it said in a disclosure to Tadawul. No details were provided on the size of each facility. The funding will be used to back the company’s ongoing and future projects, with up to SAR 100 mn earmarked for the company’s working capital needs.

FINANCIAL SERVICES-

Nama United Financing Company received the green light from the Saudi Central Bank (Sama) to launch its financing activities, including mortgage, production assets, SME, and consumer finance, as well as finance lease, according to a statement from Sama. This brings the number of Sama-licensed finance companies to 64.

HEALTHCARE-

Riyadh-based King Faisal Specialist Hospital and Research Center performed the world’s first artificial heart pump implant surgery assisted by a robot, according to a press release. The surgery was led by Dr. Feras Khaliel, head of cardiac surgery and director of the Robotics and Minimally Invasive Surgery Program at the hospital. The implanted pump was a HeartMate 3 developed by US healthcare giant Abbott.

REMEMBER- Dr. Khaliel led the world’s first robotic transplant at King Faisal Specialist Hospital last September, with the use of robotic techniques in the three-hour surgery minimizing surgical intervention, reducing pain, and shortening recovery time.

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