Al Mohafaza signs SAR 40M credit facility with Riyad Bank

08:38 AM (Mecca time) Argaam- Nomu
Logo ofAl Mohafaza Company for Education

Logo of Al Mohafaza Company for Education

Al Mohafaza Company for Education said it signed a Shariah-compliant credit facility agreement with Riyad Bank worth SAR 40 million.

 

In a statement to Tadawul, the company said the financing has a tenor of up to seven years, with guarantees including a promissory note equal to the facility value, in addition to real estate collateral.

 

The financing will be used to support the company’s expansion plans in line with its strategy and future objectives, Al Mohafaza added.

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