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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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