Riyadh – Mubasher: Al Kathiri Holding Company announced the renewal of a Shariah-compliant bank facility agreement with the National Commercial Bank (NCB).

The two parties also agreed to increase the value of the credit facilities by SAR 2 million, from SAR 3 million to SAR 5 million, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

As for the credit facility duration, it extends to the end of August 2020 but can be extended for further periods, the statement noted.

The purpose of this facility is to finance Al Kathiri Holding’s working capital and business requirements.