Al Ashghal Al Moysra renews SAR 9.6M credit facility with Riyad Bank

08:55 AM (Mecca time) Argaam
Logo ofAl Ashghal Al Moysra Co.

Logo of Al Ashghal Al Moysra Co.

Al Ashghal Al Moysra Co. renewed on Oct. 9 a Shariah-compliant credit facility agreement with Riyad Bank, worth SAR 9.6 million.

 

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According to a statement to Tadawul, the three-year contract is guaranteed by Chairman Subhi Aljuwair and CEO-Managing Director Abdulaziz Aljuwair.

 

The purpose of the financing is to cover final guarantee letters amounting to SAR 8 million. The remaining SAR 1.6 million is designated for financing the purchase of capital assets, the statement added.

 

There are no related parties to the deal.

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