National Building obtains SAR 100 mln Shariah-compliant loan facility from Riyad Bank

Logo of National Building and Marketing Co.

National Building and Marketing Co. (NBM) signed a Shariah-compliant banking facility agreement worth SAR 100 million with Riyad Bank, the company said in a bourse statement.

The credit facility will be used to finance public investments to diversify the company's sources of income.

The financing was granted based on the strength of the company's financial position, guaranteed by a promissory note.

The short-term credit facility has a tenor of three months without any related parties