On Monday, Saudi Arabia’s Public Investment Fund (PIF) secured its inaugural Murabaha credit facility, raising $7 billion as part of its medium-term capital-raising strategy.

The Murabaha funding consortium included 20 international and regional financial institutions, each leveraging their diverse portfolios to strengthen the Kingdom’s PIF. Fahad AlSaif, Head of the Global Capital Finance Division and Investment Strategy and Economic Insights Division at PIF highlighted the fund’s flexible and nuanced approach, which aims to expand its investment footprint in the region.

The $7 billion loan secured by Saudi Arabia’s PIF, according to the official statement, highlights the wealth fund’s comprehensive strategy to diversify its financial portfolio and capital distribution across various industries.

The Murabaha credit facility further complements PIF’s successful sukuk issuances and debt financing roadmap. Currently, PIF focuses on four key funding sources: capital injections from the government, asset transfers from the government, retained earnings from investments, and loans and debt instruments.