Maharah obtains SAR 362.5 mln Murabaha facilities from Al Rajhi Bank, SABB

Logo of Maharah Human Resources Co. 

Maharah Human Resources Co. secured on Aug. 18 long-term Shariah-compliant Murabaha financing facilities at SAR 362.5 million, according to a bourse filing.

The facilities are divided between Al Rajhi Bank at SAR 181.5 million and the Saudi British Bank (SABB) at SAR 181 million.

The facility tenor extends for seven years, including a grace period of two years. 

The financing facility, which is guaranteed by corporate promissory notes, will go for financing the company’s future acquisitions. 

The deal included no related parties, and no administration fees or up-front fees are applied on the facility, the statement added.