The General Entertainment Authority signed on Tuesday a memorandum of understanding (MoU) with Al Rajhi Bank under the guidance of Turki Al-Sheikh, Chairman of the GEA Board of Directors.
The MoU comes as part of a package of services and solutions that GEA provides to entertainment companies to sustain and develop the entertainment industry, especially after some of them were negatively affected by the coronavirus pandemic.
The MoU with the bank aims at providing funding services to companies through a number of products, such as salary finance and point of sale financing. The product is designed to suit the needs of the establishments and the capital flow supports companies to grow and seize business opportunities.
The fleet financing product allows companies the facility to finance its fleet according to its need in a quick and effective way with profit rates and post-contract services.
Entertainment companies can benefit from the financing services provided by Al Rajhi Bank by submitting applications via email to SME.Xsell@alrajhibank.com.sa bearing the company’s name, activity, revenue, region, and the contact person’s name and telephone number. For more information please visit the authority’s website: Funding solutions.
Earlier, the GEA signed an MoU with Bank AlJazira for providing financing solutions related to granting loans to the Kingdom’s entertainment sector to sustain and develop the entertainment industry.