Quara Finance obtains SAR 100M credit facility from Bank AlJazira

Logo of Quara Finance Co.

Quara Finance Co. entered on Aug. 3 into a five-year, Shariah-compliant credit facility agreement for SAR 100 million with Bank AlJazira.

 

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In a statement to Tadawul, the company pointed out that it provided a promissory note, receivables proceeds, and a shareholder guarantee to secure the financing.

 

The facility aims to support expansion and increase sales volume in line with its strategy and future plans.

 

The facility agreement is a recurring transaction conducted in the ordinary course of business, in line with prevailing commercial terms and without any preferential conditions.

 

There are no related parties to the agreement, the statement added.

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