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Saudi Al-Khodari obtains SAR 115m Islamic facility

Saudi Al-Khodari obtains SAR 115m Islamic facility
This Loan is to be repaid without any commissions or financial charges
Al Khodari
1330
-6.26% 5.39 -0.36

Riyadh – Mubasher: Saudi Arabia-based Abdullah Abdul Mohsen Al-Khodari Sons Company signed a SAR 115 million Islamic loan agreement with Abdullah A. M. Al-Khodari Sons Investment Holding Company on Sunday, 31 December 2017.

Abdullah A. M. Al-Khodari Sons Investment Holding Company is a related party and major shareholder.

The loan was secured by a promissory note and it aims to finance the operating capital and purchase fixed assets for the firm.

“This Loan is to be repaid without any commissions or financial charges within a period not exceeding 31/12/2019,” according to a statement on Monday to the Saudi Stock Exchange (Tadawul).

By 10:53 am KSA time, Al Khodari’s stock decreased 1.37% to SAR 9.35.