Saudi Arabia-based Abdul Mohsen Al Hokair Group for Tourism and Development Co. signed a Murabaha ​loan agreement with Gulf International Bank at a total value of SAR 150 million.


The financing, guaranteed by a promissory note, was valid as of Dec. 15 and will last until Nov. 27.


The facility will go ​towards the company’s expansions, in addition to fulfilling requirements of its working capital. It will be paid in quarterly installments over a maximum period of four years.

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