Abo Moati renews SAR 45 mln Islamic facility with Samba

20/07/2020 Argaam

 

Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) renewed on Monday a sharia-compliant financing facility agreement with Samba Financial Group worth SAR 45 million, the company said in a statement to Tadawul.

 

The 1-year facility will be used for working capital needs.

 

The Islamic facility is guaranteed by a promissory note and the deal has no related parties, the statement said.

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