National Building signs SAR 85 mln credit facility agreement with Alinma Bank

Logo of National Building and Marketing Co.

National Building and Marketing Co. signed today, March 20, a Sharia-compliant credit facilities agreement worth SAR 85 million with Alinma Bank, according to a statement to Tadawul.

The agreement will be valid for a period of nine months, said the company, adding that the goal of the facilities is to finance working capital requirements.

The company also said that the facilities are secured by a fine and performance guarantee submitted by the board chairman, noting that there are no related parties.