Maharah obtains SAR 200 mln long-term Murabaha loan from Al Rajhi Bank

28/09/2022 Argaam

Logo of Maharah Human Resources Co.

Maharah Human Resources Co. obtained, on Sept. 27, a SAR 200 million long-term Shariah-compliant Murabaha credit from Al Rajhi Bank.

 

The credit period extends over seven years including a grace period of four years, the company said in a bourse filing today, Sept. 28.

 

The amount is aimed at financing Maharah’s future acquisitions, the statement added.

 

The credit is covered by a promissory note for the full amount, the company said, noting that the facility amount does not include administration fees and no up-front fees is applied.

 

The deal does not include any related parties, the statement added.

 

Tags: Saudi Arabia, News, Maharah Human Resources, Al Rajhi Bank, Credit Facilities

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