Tharwah secures SAR 1M financing from SNB

15/01/2025 Argaam
Logo ofAltharwah Albashariyyah Co.

Logo of Altharwah Albashariyyah Co.

Altharwah Albashariyyah Co. (Tharwah) signed today, Jan. 15, a Shariah-compliant banking facilities agreement worth SAR 10 million with Saudi National Bank (SNB).

 

In a statement to Tadawul, the company said the financing tenure started today and will close on Jan. 31, 2026.

 

A SAR 11 million promissory note was provided as a guarantee for the credit, the statement added.

 

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The funding will be used for the issuance of final letters of guarantee and multi-purpose financing, the company noted, indicating that no related parties are involved in the deal.

 

Tharwah will announce any material developments related to this agreement in due time.

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