Abo Moati renews SAR 70 mln Islamic facility with SAIB

31/12/2020 Argaam

Logo of Abdullah Saad Mohammed Abo Moati for Bookstores Co.

Abdullah Saad Mohammed Abo Moati for Bookstores Co. (Abo Moati) renewed today, Dec. 31, a Shariah-compliant financing facility agreement with Saudi Investment Bank (SAIB) worth SAR 70 million, the company said in a statement to Tadawul.

 

The one-year facility will be used for financing working capital.

 

The Islamic facility is guaranteed by a promissory note and the deal has no related parties, the statement said.

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