News & Announcements

SHL

16 July, 2024 15:59

The SHL Finance Company announces the signing of a Sharia-compliant banking facility agreement with Al Bilad Bank

Element List	Explanation
Introduction	SHL Finance Company announces the signing of a Sharia-compliant banking facility agreement with Al Bild Bank
Date of obtaining the funding	2024-07-16 Corresponding to 1446-01-10
Financing entity	Al Bilad Bank
Financing amount.	311,871,000 million Saudi Riyals
Financing duration.	Till 21/05/2025
Guarantees offered for the financing	A promissory note Assignment of receivables
Financing objective	The purpose of this facility is to expand and increase the company's sales volume through new originated loans to its customers, in line with the company's strategy and future plans.
Related Parties	N/A
Additional Information	The company confirms that the Facility Agreement is a continuous transaction is carried out in the normal course of business and in accordance with prevailing commercial conditions and without any preferential terms.

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