Al-Fakhera obtains SAR 45M credit facilities from ANB

08:31 AM (Mecca time) Argaam- Nomu
Al-Fakhera aims to use the funds to strengthen working capital

Al-Fakhera aims to use the funds to strengthen working capital

Al-Fakhera for Men’s Tailoring Co. obtained on Oct. 16 Shariah-compliant credit facilities worth SAR 45 million from Arab National Bank (ANB).

 

The company stated in a statement on Tadawul that the financing term is five years, in addition to a one-year grace period.

 

It provided a promissory note equivalent to the value of the granted facilities as collateral, along with a pledge on a portfolio.

 

There are no related parties involved, it noted.

 

The clothing company said the purpose of the funds is to strengthen working capital in line with its strategy and to support the financing of its new projects and future expansion investments.

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