MESC increases Sharia-compliant financing to SAR 150M through Alinma Bank, supporting working capital and bank guarantees through 2028.
Middle East Specialized Cables Company (MESC) has increased its available Sharia-compliant financing to SAR 150 million after renewing a facility with Alinma Bank, according to a filing on the Saudi Exchange.
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The renewed facility represents a SAR 50 million increase from the previous limit. MESC said the financing will be used to meet working capital requirements and support the issuance of performance-related bank guarantees.
The arrangement takes effect in early January 2026 and will run until August 2028. It is secured by promissory notes valued at SAR 165 million, the filing showed.
In a separate disclosure, MESC noted that its UAE subsidiary secured AED 91 million in Sharia-compliant financing from Mashreq Bank in December 2025, underscoring the group’s continued reliance on Islamic financing structures across its regional operations.
Why MESC Matters to MENA
The expanded Sharia-compliant financing facility highlights the continued role of Islamic banking in supporting industrial and infrastructure-linked companies across the MENA region. As regional manufacturers navigate longer project cycles, rising input costs, and cross-border operations, access to structured, multi-year Islamic financing remains a key enabler of operational stability.
For Saudi Arabia, the transaction reflects ongoing alignment between banks and industrial firms as the Kingdom advances Vision 2030, particularly in sectors tied to construction, energy, and industrial development. More broadly, steady financing activity across Saudi Arabia and the UAE signals sustained liquidity in MENA’s Islamic finance market, even as global conditions remain uncertain.
