Saudi Arabia’s Academy of Learning Secures $6.37 Million Shariah-Compliant Credit Facility Saudi Arabia-based education and training provider Academy of Learning (AOL), led by Chairman Khalid Mohammed Al-Ammar and CEO Hasan Al-Shibli, has secured a SAR 24 million (approximately $6.37 million) Shariah-compliant credit facility from Alinma Bank to support its expansion and revenue growth. The company’s journey reflects the development of Saudi Arabia’s education sector and the entrepreneurs building businesses to meet the Kingdom’s growing demand for professional training and skills development.
Founded in Dammam in 2004, Academy of Learning began with an initial capital of SAR 100,000 and has since grown into a publicly listed education provider operating across multiple cities in Saudi Arabia. Its growth has been driven by a focus on vocational education, professional training, and programs designed to prepare learners for an evolving employment market.
The financing agreement, announced on October 22, 2026, provides additional financial capacity as the company continues to expand its education business. The facility is a credit financing arrangement rather than an equity investment, meaning it does not involve issuing new shares or bringing in additional shareholders. The company will instead repay the financing under the agreed terms.
Academy of Learning increased its capital to SAR 60 million over the course of its development and was listed on Saudi Arabia’s Nomu Parallel Market in July 2022. Today, it operates 12 education and training institutes and six centers across Dammam, Khobar, Al-Ahsa, Jubail, and Qatif.
Its programs cover business administration, hotel management, logistics, cybersecurity, artificial intelligence, and other professional disciplines. These offerings serve students and professionals seeking qualifications and practical skills aligned with the changing needs of Saudi Arabia’s employment market.
The latest facility builds on Academy of Learning’s existing relationship with Alinma Bank. In 2025, the company obtained SAR 15 million in Shariah-compliant credit facilities from the same bank under a five-year arrangement. It has also secured financing from other Saudi lenders, including an earlier SAR 22 million facility from Riyad Bank intended to support expansion in Riyadh, Khobar, and Dammam.
Beyond its established vocational training business, Academy of Learning has been exploring opportunities in school education. In 2024, the company established a subsidiary with capital of SAR 10 million to establish, operate, and acquire schools in the national and international education sectors. The company indicated that the school business would be financed through a combination of internal resources and external financing.
The expansion could allow Academy of Learning to diversify its revenue streams and reach a broader student population. However, entering the school education market also requires investment in infrastructure, staffing, and student recruitment, making execution an important factor in determining the business’s long-term performance.
Academy of Learning holds accreditations from Saudi Arabia’s Technical and Vocational Training Corporation and the National E-Learning Center. It also holds ISO 9001:2015 and ISO 21001:2018 certifications and received the Labor Award in 2021 and 2022.
The company’s shareholder base includes Khalid Mohammed Al-Ammar, who holds approximately 24.6%, Saudi Advanced Industries Company, with a 10% stake, and Saudi Industries Development Company, with approximately 6.7%.
The SAR 24 million credit facility provides Academy of Learning with additional financing capacity as it pursues its expansion plans. Unlike equity funding, however, the arrangement creates repayment obligations. The benefits will depend on how effectively the company deploys the capital, attracts students, expands its operations, and generates sufficient revenue to meet its financial commitments.
For Academy of Learning, the latest agreement represents another stage in a journey that began with a small training operation in Dammam and developed into a publicly listed education business. As the company expands its vocational training operations and explores opportunities in school education, its ability to translate financing into sustainable growth will be central to its next phase.
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