Taiba Holding secures SAR 533 mln Islamic loan from Riyad Bank

01/04/2018 Argaam

 

Taiba Holding Co. on March 29 secured a sharia-compliant loan worth SAR 533 million from Riyad Bank, the real estate investment firm said in a statement on Tadawul today.

 

The ten-year loan, which has a grace period of three years, will be used to finance the firm’s real estate projects, the statement said.

 

The Islamic loan is guaranteed by a mortgage and a promissory note, it added.

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