National Building signs SAR 15 mln Sharia-compliant facility deal with Alinma Bank

National Building & Marketing Co. announced the signing of a Sharia-compliant credit facilities agreement with Alinma Bank, at a total value of SAR 15 million, the company said in a bourse statement.

The facilities, which have a tenor of 180 days until May 31, 2021, will be utilized in funding the company’s working capital.

They were granted under Kafala program to support organizations and companies based on the strength of their financial position, in return of a promissory note and a personal guarantee from the chairman of the company’s board of directors.