Salam International
in progressRating R06CAM-0008/2026 · Private Banking & Wealth Management · Demand Loan USD 10.0 MM · Current stage: 6. Committee Approval
- OriginationCompleted
- PreparationCompleted
- BusinessCompleted
- Credit AdminCompleted
- RiskCompleted
- 6CommitteeIn progress
- RegulatoryLocked
- Docs & CPsLocked
- DisbursementLocked
- MonitoringLocked
Next action · Stage 6: Committee Approval
Routed by the delegation-of-authority matrix. Members vote approve / decline with comments and e-sign.
Owner
L2 / L1 / Credit Committee / Executive Committee
Gate to next stage
Approved (possibly with conditions) or declined
Facility request
- Facility type
- Demand Loan
- Amount
- USD 10.0 MM · QAR 36,500K
- Tenor
- 25 yrs (2 yr availability)
- Pricing
- 3M SOFR + —
- LTV / coverage
- 70% / 143%
- Approval level
- Level 1
- Total exposure (QAR 000s)
- 36,500
- Limit % of capital base
- 0.46%
- Large exposure / related director
- No / No
Purpose
Create a new facilty
Tracking sheet
Auto-generated from stage transitions — replaces the manual tracking sheet.
| Unit | Name | Out-date | Action | Comments |
|---|---|---|---|---|
| Relationship Manager (Business Unit) | Person 6 | 15 Sept 2026 11:17 | submit → CAM Preparation | So stage 1 is complete, only the sanctions check is pending. We have sent it to the Bureau of Investigation and we'll get the answer back in a week. |
| Business Unit analyst (Preparer) | Person 6 | 15 Sept 2026 11:27 | submit → Business Sign-off | — |
| BU management (Recommender → Concurrer) | Person 2 | 15 Sept 2026 11:28 | pass → Credit Admin Control | — |
| Corporate Credit Administration | Person 3 | 15 Sept 2026 11:30 | pass → Independent Risk Review | — |
| Risk Management | Person 2 | 15 Sept 2026 11:32 | pass → Committee Approval | [GATE OVERRIDE] forced past 1 blocker(s) by Person 2 — Risk Management must validate or override the risk rating |
Ratios vs thresholds
borrower · Debt service coverage (DSCR) (FY2025)0.40xweak
borrower · Interest coverage (EBITDA / interest) (FY2025)2.37xacceptable
borrower · Leverage (total liabilities / tangible net worth) (FY2025)1.70xacceptable
borrower · Current ratio (FY2025)1.60xgood
borrower · Revenue trend (latest year) (FY2025)10.8%good
borrower · Profitability (net margin) (FY2025)5.5%good
borrower · LTV on pledged securities / fund units (term sheet)70%acceptable
borrower · Security coverage (collateral / exposure) (term sheet)143%weak
Red flags (59 open)
Missing: KYC & constitutional documentshigh
No document in category "KYC / constitutional" has been uploaded.
Going-concern languagehigh
The auditor's report does not identify a material uncertainty related to going concern. The financial statements state that the Group manages capital to continue on a going concern basis.
Interim financial information not independently reviewedhigh
The 30 September 2025 and 30 September 2024 columns are expressly marked “Not Reviewed”. No audit or review opinion and no explanation for the absence of independent assurance are provided. Consider imposing an audit or independent review condition for the required financial reporting period before reliance on the figures.
Current interim financials not reviewedhigh
The 31 March 2025 statement of financial position and the three-month income statement are marked “Not Reviewed”. The document provides no explanation for the absence of an audit or review. Obtain clarification and consider imposing a condition requiring submission of reviewed or audited interim financial statements, as applicable to the facility and credit policy.
No audit opinion; reviewed interim information onlyhigh
The statements are reviewed under ISRE 2410 rather than audited. KPMG states that a review is substantially less in scope than an audit and that it does not express an audit opinion. The credit file should impose an audited annual financial statements condition and consider requiring audited or independently reviewed interim accounts for monitoring.
Material leveragehigh
At 30 June 2026, borrowings were QAR 2134091661 and bank overdrafts were QAR 54342786, against total equity of QAR 1759626211. Borrowings and overdrafts therefore exceed reported equity.
Material related-party receivables and impairmenthigh
Net due from related parties was QAR 304084042 after an impairment allowance of QAR 65381119. Net loans to associate companies were QAR 8339027 after an impairment allowance of QAR 17383889. The balances and recoverability should be monitored.
High leverage and debt service burdenhigh
Total debt was QAR 2,269,365,200 against total equity of QAR 1,776,034,740. Reported net debt-to-equity was 116%. Contractual FY2025 debt service, calculated from borrowings repayments and finance costs paid, was approximately QAR 676,999,039 versus operating cash flow of QAR 194,653,391.
Documents (8)
SIIL English FS Sep 2025.pdfMgmt accounts · 253.2 KB
SIIL FS March English 2025.pdfMgmt accounts · 227.6 KB
SIIL -HY 2026-English Signed.pdfMgmt accounts · 1.4 MB
SIIL Console FS 2025_EN_Signed.pdfAudited FS · 1.4 MB
SIIL Group FS -EN 30 June 2025.pdfAudited FS · 1.2 MB
SIIL FS Q1-2026 English.pdfMgmt accounts · 1.3 MB
EN SALAM.pdfMgmt accounts · 236.5 KB
SIIL Consol FS English Dec'2024.pdfAudited FS · 4.1 MB
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