Baker Botts with Amlak on Shariah-Compliant portfolio sale to SNB
Baker Botts advised Amlak International Finance Company (Amlak) on a Shariah-compliant transaction involving the sale of a portfolio of consumer finance contracts to Saudi National Bank (SNB), with an initial value of SAR 133.7 million, together with a related servicing arrangement.
The agreement also establishes a framework for the potential sale of additional consumer finance contracts by Amlak to SNB, subject to agreed terms and conditions, up to an aggregate amount of SAR 500 million.
The Baker Botts team
The Baker Botts team advising on the transaction was led by partner and global head of Islamic finance Faris Al Amoudi, with associate Omar Alsughaiyer in Riyadh.
