Halwani Bros renews SAR 55M Islamic facilities with Bank AlJazira

  • HB(0.37%)
11/03/2024 Argaam
Logo ofHalwani Bros.

Logo of Halwani Bros.

Halwani Bros. Co. renewed on March 10 a Shariah-compliant banking facilities agreement worth SAR 55 million with Bank AlJazira.

 

Halwani will use these facilities to finance working capital, the company said in a statement to Tadawul.

The agreement is valid until Jan. 23, 2025, and is renewable annually.

These facilities are fully secured by a promissory note. There are no related parties to the deal, the company added.

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