Jabal Omar pays SAR 231 mln loan commissions to finance ministry

01/01/2018 Argaam

 

Jabal Omar Development Co. on Monday paid to the finance ministry the loan commissions worth SAR 231.2 million under the facility secured by the company in December 2011, the developer said in a bourse statement.

 

Both installments matured on Jan. 1, 2017 and Jan. 1, 2018.

 

The move came after the developer had converted a commercial loan worth SAR 3 billion from the finance ministry into a Murabaha facility in Nov. 13, 2017, Argaam reported.

 

Jabal Omar added that the financial impact will reflect positively on short-term liabilities in Q1 2018. 

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