Monday 21 January 2019

Al Khodari renews $45m Islamic credit facility

RIYADH, March 10, 2016

Saudi Arabia construction firm Abdullah Abdul Mohsin Al-Khodari and Sons has announced the renewal of its Islamic credit agreement with National Commercial Bank.

The SR170 million ($45 million) funding will be used to provide bonding commitments and fund capital requirements and working capital needs for the company's general purposes and specific projects, the company said in a statement to the Saudi bourse.

The modes of utilization are murabaha financing and multi bonds and it will be repaid before February 2017, it added.-TradeArabia News Service


Tags: Islamic | credit facility | Al Khodari |

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