TAM signs SAR 15 mln credit facility agreement with Bank AlJazira

13/11/2023 Argaam
Logo ofTAM Development Co.

Logo of TAM Development Co. 

TAM Development Co. signed on Nov. 12 a Shariah-compliant banking facilities agreement with Bank AlJazira worth SAR 15 million.

 

The 12-month facility is covered by a promissory note worth 110% of the total value, the company said in a statement on Tadawul.

 

The facility aims to facilitate bank guarantees and short-term financing, if required.

 

The agreement is dated Oct. 24, 2023.

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