Nama Chemical Company announces the signing of a Murabaha facility agreement with the National Bank of Kuwait and a Tawarruq facility agreement with Riyad Bank (compliant with the provisions of Islamic Sharia).
The total value of the facilities is 90 million Saudi riyals, divided into 60 million riyals granted by the National Bank of Kuwait and 30 million riyals granted by Riyad Bank.
Financing duration.
Six month revolving facilities for one year (renewable).
Guarantees offered for the financing
A promissory note guarantees each agreement for the value of the facility granted
Financing objective
The company aims to finance working capital by obtaining these facilities in line with its strategy.
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