Riyadh – Mubasher: Mouwasat Medical Services on Thursday announced signing a murabaha financing agreement with the Project Support Fund, affiliated to the kingdom’s finance ministry.

The SAR 169.85 million ($45.29 million) deal aims to finance Mouwasat hospital in Khobar, according to a statement to the Saudi Stock Exchange (Tadawul).

The 10-year finance deal has a two-year grace period, the statement added.

For the full-year 2018, the medical firm’s profits, after calculating zakat and taxes, increased by 7% to SAR 360 million, compared to SAR 337 million in 2017.