Saudi Binladin Group (SBG) is reportedly negotiating with banks for an extension of up to two years on a SAR10bn (USD2.7bn) Islamic credit facility utilised to finance the construction work of the Kingdom's Grand Mosque in Mecca. Banking sources said SBG had asked for an extension until the end of 2019 for the syndicated facility, used as working capital to fund the expansion of the Grand Mosque, which houses the Kaaba, which Muslims face towards when praying. The sources said the project had been delayed to allow the government to defer some of its spending plans, as well as because of changes to the project's scope and to some of its contractors. (Zawya)