Enma Alrawabi Company announces that it has obtained Sharia-compliant credit facilities.

Enma Alrawabi Company announces that it has obtained Sharia-compliant credit facilities.

26 February 2024 08:06 AM

Element List

Explanation

Date of obtaining the funding

2024-02-25 Corresponding to 1445-08-15

Financing entity

Arab National Bank.

Financing amount.

(170,000,000) One hundred and seventy million Saudi riyals only.

Financing duration.

Five years.

Guarantees offered for the financing

1. A promissory note for the full value of the financing. 2. Mortgage on the Hittin land in Riyadh.

Financing objective

To finance the transaction of purchasing the buildings erected on the Hittin land in Riyadh, in relation to the termination of the lease contract between Enma Alrawabi Company (the lessor) and Al-Motaqadimah Schools Company (the lessee) by mutual consent.

Related Parties

No related parties.

Enma Alrawabi Company announces that it has obtained Sharia-compliant credit facilities.