SADAFCO receives SAR 75m murabaha deposit plus interest

26/03/2014 Argaam

Saudi Arabia Dairy and Foodstuff Company (SADAFCO) announced today on Tadawul receiving its SAR 75m murabaha deposit principal deposited earlier at UGB in Bahrain (related party), In addition to SAR 356,250 of interest at 3% per annum.

The interest will be reflected on the financial statements of Q4 ending 31/3/2014.

According to Argaam’s data, SADAFCO’s board decided on January 26, 2014 depositing a Murabaha deposit of SAR 75m at UGB with an interest rate of 3% per annum. The amount was deposited on January 27, 2014 and matured on March 25, 2014.

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