Sadr Logistics obtains SAR 5 mln financing from ANB

13/09/2021 Argaam

Logo of Sadr Logistics Co.

Sadr Logistics Co. obtained, on Sept. 12, short-term, Shariah-compliant financing worth SAR 5 million from Arab National Bank (ANB) through the Kafalah Fund within the small and medium enterprises loan guarantee program. 

 

The company said in a bourse filing that the financing period is one year and is guaranteed by a promissory note for the entire amount and by Kafalah Fund within the small and medium enterprises loan guarantee program.

 

The objective of the loan is to finance imports under documentary credits opened by the bank.

 

There are no related parties involved in the transaction.

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