Guidance Capital arranges SAR 188 mln Sharia-compliant facility for Al-Khodari

01/02/2015 ِArgaam

Guidance Capital Markets (DIFC) has arranged SAR 188 million ($50 million) worth of off-shore, Sharia-compliant credit facilities for Abdullah Al-Khodari Sons from an Abu Dhabi-based bank.

The three-year Murabaha facility will be paid in annual installments, Tahir M. Naseem, chief executive of the company.

Al Khodari obtained this credit facility upon providing a bank guarantee, in addition to waiving the returns of the financed project, according to the company’s statement to Argaam.

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