NRC renews murabaha credit facility

The Northern Region Cement (NRC) company announced that it signed a murahaba credit facility renewal contract with the Arab National Bank as follows:

1. The contract was signed on 27/8/2013
2. The finance amount is SAR 200,000,000
3. The finance tenure is between 27/8/2013 and 26/8/2014
4. The finance is collateralized by ordinary bank documents including a promissory note.

By securing the finance, the company aims to finance its working capital and letters of credit for importing automobile spare parts