Mufeed Co Secures USD 4.6M Shariah-Compliant Financing for Growth

29 December 2025•

By Lucy Unicorn

A smiling man in traditional Saudi attire, wearing a red and white checkered headdress and a white thobe, poses warmly.

Wafi Saeed Al-Qahtani, Mufeed Vice Chairman & CEO

Nomu-listed Mufeed Co. said it obtained Shariah-compliant banking facilities totaling SAR 17.5 million (approximately USD 4.6 million) from Saudi Awwal Bank (SAB) on Dec. 28.

In a statement to Tadawul, the company said the funds aim to support its operational and expansion activities in line with its strategic plans and Saudi Vision 2030 objectives.

Mufeed said no related parties are involved and the financing has a 12-month term.

The company provided a promissory note worth SAR 17.5 million as collateral for the facilities, the statement added.

Source: Argaam

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Lucy, the cute female unicorn of Lucidity Insights, waving and standing in front of a purple background.

Lucy Unicorn

Lucy is a young unicorn passionate about responsible business practices, from Sustainability and ESG performance management to deep-dive investigations of the broad socio-political and macro-economic implications of various government and business strategies. Lucy has a knack for research, data analytics, and understanding the implications of new and disruptive technologies. Prior to becoming a tech news reporter, Lucy spent a few years working for the United Nations, researching and evaluating the socio-economic impact of various programs and the adoption of technological innovations. Lucy studied integrated engineering, and worked on converting her fuel-powered car into an electric vehicle as her final project for graduation. Lucy can still be seen driving her zero-emissions vehicle in and around Dubai, where she grew up. Lucy speaks English and Arabic, and completed her studies in Canada, where she also minored in magic powered technological solutions. Lucy specializes in sustainable development, climate tech, ESG, social impact startups, venture capital, macroeconomics and geopolitics.

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