Al Naqool obtains SAR 4.7 mln financing from Tamweel Aloula

22/06/2021 Argaam

Logo of Mohammed Hasan Al Naqool Sons Co.

Mohammed Hasan Al Naqool Sons Co. obtained on March 11, a SAR 4.7 million Shariah-compliant financing from Tamweel Aloula Co., the company said in a bourse statement.

 

The credit, which has a term of 36 months, is covered by a promissory note, the statement added.

 

The amount is intended to finance the purchase of equipment in order to increase production capacity.

 

No related parties are included in the deal, the company noted.

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