Al Rasheed gets SAR 20M credit facility from Emirates NBD

04:07 PM (Mecca time) Argaam- Nomu
Logo ofMohammed Hadi Al Rasheed and Partners Co.

Logo of Mohammed Hadi Al Rasheed and Partners Co.

Mohammed Hadi Al Rasheed and Partners Co. (Al Rasheed) obtained today, Feb. 5, a Shariah-compliant banking facility (Tawarruq) worth SAR 20 million from Emirates NBD Bank.

 

In a statement to Tadawul, the company said the eight-month financing is guaranteed by a promissory note valued at SAR 20 million.

 

The facility will be used to finance working capital, the statement added, noting there are no related parties to the agreement.

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