Taiba Investments inks SAR 1.36 bln long-term Islamic financing deal with Bank Albilad

23/07/2020 Argaam

 

Taiba Investments Co. signed a long-term Shariah compliant financing agreement with Bank Albilad for an amount of SAR 1.36 billion, the company said in a bourse filing on Thursday.

 

The financing term is 14 years including a grace period of 4 years.

 

The amount is covered by a real estate mortgage and a promissory note, the company said, adding that there are no related parties involved in the deal.

 

The credit is intended to finance the implementation of hotel and commercial real estate projects according to the strategic plan announced by the company.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.