Mufeed secures SAR 7.5M worth of Islamic facility from Lendo

08:32 AM (Mecca time) Argaam
Logo ofMufeed Co.

Logo of Mufeed Co.

Mufeed Co. obtained on Oct. 20 a Shariah-compliant credit facility from Lendo, a Saudi-based debt crowdfunding platform, for SAR 7.5 million, according to a statement to Tadawul.

 

The 12-month credit facility aims to fund the company’s projects. It is guaranteed by a promissory note issued in favor of the financier for the full value.

 

The agreement included no related parties, the statement added.

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