Abo Moati renews SAR 40 mln Islamic facility with NCB

26/11/2020 Argaam

Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) renewed today, Nov. 26, a Sharia-compliant financing facility agreement with National Commercial Bank (NCB) worth SAR 40 million, the company said in a statement to Tadawul. 

 

The one-year facility will be used for financing working capital.

 

The Islamic facility is guaranteed by a promissory note and the deal has no related parties, the statement said.

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