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TAM DEVELOPMENT
9570
-3.74%
206.00
-8.00
9570
SAB
1060
3.57%
36.25
1.25
1060
Riyadh – Mubasher: Tam Development Company signed a SAR 25 million Sharia-compliant financing facility agreement with Saudi Awwal Bank (SAB) on 20 September 2023.
The funding term is 12 months and the agreement is guaranteed by a promissory note worth the total amount of the facility, according to bourse disclosures.
The company stated that the purpose of the financing is to obtain a short-term credit line if needed in addition to bank guarantee facilities.
In August this year, Tam Development awarded three contracts at an aggregated value of SAR 45.12 million.
Source:
Mubasher