Tasnee signs Murabha Credit agreement

02/10/2013 Argaam

The National Industrialization co. (Tasnee) announced today on Tadawul the signing of a SAR 4bn murabha credit agreement with Al Riyad Bank, Al Rajhi Bank, Al  Bilad Bank, Emirates NBD, SABB, SAMBA, Banque Saudi Faransi and Saudi Investment Bank on 2/10/2013 .

 

 

 

The sharia complaint agreement will be repaid on 14 equal semiannual installments after a grace period of one year.

 

 

 

The proceeds will be used in financing future projects and refinancing of outstanding loans.

 

 

 

 

 

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