Riyadh – Mubasher: Filling and Packing Materials Manufacturing Company (FIPCO) has renewed a SAR 30 million Shariah-compliant banking facility agreement with Bank Albilad.

The agreement’s duration is for one year from 25 March 2020 to 25 March 2021, according to the company’s statement.

FIPCO aims to use this facility to finance its working capital and that of its subsidiary FPC Industries Co.

The facility is secured by a promissory note in favour of Bank Albilad, the statement noted.