Farm Superstores renews financing deal with GIB

10/12/2014 Argaam

Saudi Marketing Co., known as Farm Superstores, renewed its Murabaha financing agreement worth SAR 100 million with Gulf International Bank (GIB), the company said in a statement. 

 

The financing contract renewal was signed on Wednesday and is set to last until Aug. 27, 2015. 

 

The financing was secured by a promissory note and is aimed at buying commodities through Murabaha, the company said. 

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