Tam Development Co. Announces Obtaining a bank facility in compliant with Islamic sharia

Tam Development Co. Announces Obtaining a bank facility in compliant with Islamic sharia

Element List

Explanation

Introduction

Tam Development Company Announces the Signing of Sharia Compliant Banking Facilities Agreement

Date of obtaining the funding

2024-01-24 Corresponding to 1445-07-12

Financing entity

Bank Albilad

Financing amount.

20 million Saudi riyals

Financing duration.

12 Months

Guarantees offered for the financing

A promissory note worth 109% of the total value of the facilities

Financing objective

Bank guarantees facilities and Short-term Finance facility (if needed)

Related Parties

Not Applicable

Additional Information

The agreement is dated January 07, 2024, but the signatures on the agreement were not completed until January 24, 2024.

Tam Development Co. Announces Obtaining a bank facility in compliant with Islamic sharia