Jarir Marketing Co. announces Signing Islamic Facility Agreement with Saudi Investment Bank amounting to SR 233 M. to finance opening new showrooms

Jarir Marketing Co. (JMC) announces on Wednesday 1st of August 2012 , signing   Islamic Facility Agreement amounting to SR 233 million with Saudi Investment        Bank                                                                                                                              

A part of the above mentioned facility agreement is Murabah Islamic Medium term loan amounting to SR 225 million to be settled in four (4) semiannual installments    after two (2) years of grace period.The reason for having this Islamic loan is to finance buying new lands in good locations for building new showrooms for Jarir Bookstore in Saudi Arabia.This step is a part of Jarir's expansion plan to cover all cities in Kingdom of Saudi Arabia to reach the biggest part of its customers , and consequently increasing return on investment to its shareholders , while keeping the dividend payout ratio according to the company's policy