Saudi news

“National Building” raises the limit of banking facilities from “Riyad Bank” by 50 million riyals

The National Building and Marketing Company announced that it had signed an agreement to increase the limit of banking facilities granted by Riyad Bank, in compliance with the provisions of Islamic Sharia, at a value of 50 million riyals.

The company said in a statement on “Tadawul Saudi Arabia”, today, Wednesday, that the financing aims to support the working capital of its existing projects.

She added that the financing period is 12 months.

The guarantees provided in exchange for financing were explained as promissory notes and on the same terms as the facilities previously approved with the bank.

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