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FIPCO extends SAR 30m deal with Bank Albilad

FIPCO extends SAR 30m deal with Bank Albilad
The sharia-compliant loan deal carries a duration of one year
FIPCO
2180
-0.96% 62.20 -0.60
ALBILAD
1140
-1.78% 35.80 -0.65

Riyadh – Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) has renewed a credit facilities agreement worth SAR 30 million with Bank Albilad, according to a bourse filing on Monday.

The sharia-compliant loan deal carries a duration of one year, and is guaranteed by a promissory note in favour of the bank.

The final approval for the agreement was granted on 12 April 2021.

FIPCO had extended a loan agreement with Bank Albilad in April 2020.