Mufeed Company Announces Obtaining a Bank Facilities
| Element List | Explanation |
|---|---|
| Introduction | Mufeed Company announces that it has obtained bank facilities from Riyad Bank, compliant with the provisions of Islamic Sharia. |
| Date of obtaining the funding | 2025-11-16 Corresponding to 1447-05-25 |
| Financing entity | Riyad Bank |
| Financing amount. | (SAR 35,922,000) thirty-five million nine hundred twenty-two thousand Saudi Riyals. |
| Financing duration. | 12 Months |
| Guarantees offered for the financing | A promissory note in the amount of (SAR 38,940,000) thirty-eight million nine hundred forty thousand Saudi Riyals.
A joint and several guaranteed acknowledgments for liability and payment in the amount of (SAR 35,922,000) thirty-five million nine hundred twenty-two thousand Saudi Riyals. |
| Financing objective | Supporting the Company’s operational and expansion activities in line with its strategic plans and objectives, contributing to the achievement of Saudi Arabia’s Vision 2030. |
| Related Parties | no related parties |
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