Riyadh – Mubasher: Maharah Human Resources Company obtained a long-term Sharia-compliant Murabaha loan worth SAR 200 million from Al Rajhi Bank on 27 September 2022.

The company will use the facility to finance its future acquisitions, according to a bourse disclosure.

Maharah pointed out that the funding is guaranteed by corporate promissory notes covering the total loan value. Meanwhile, the financing duration is seven years, including a four-year grace period.

Last August, the Saudi listed firm secured a long-term loan worth SAR 181.50 million from the lender.

In the first half (H1) of 2022, Al Rajhi Bank logged net profits of SAR 8.40 billion, a 20.90% year-on-year (YoY) jump from SAR 6.90 billion.