SPIMACO signs SAR 150 mln Murabaha agreement with Saudi EXIM Bank

04/11/2021 Argaam

Senior executives at the signing ceremony

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed today, Nov. 4, a Murabaha agreement worth SAR 150 million with Saudi EXIM Bank, according to the company's statement.

 

Under the agreement, the bank will provide credit facilities at a value of SAR 150 million to the company to cover the capital requirements related to its export activities in overseas markets.

 

EXIM Bank Chief Executive Officer (CEO) Saad Alkhalb said that the agreement is set to enable the national products in the pharmaceuticals sectors to expand into new markets.

 

He stressed that the bank is keen on continuous development of its products to suit the needs of exporters across all non-oil sectors.

 

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