Tharwah renews SAR 8M credit facilities with Riyad Bank

22/01/2025 Argaam
Logo ofAltharwah Albashariyyah Co. (Tharwah)

Logo of Altharwah Albashariyyah Co. (Tharwah)

Altharwah Albashariyyah Co. (Tharwah) renewed today, Jan. 22, a SAR 8 million Shariah-compliant credit facility agreement with Riyad Bank.

 

In a statement to Tadawul, the company said the financing term today and ends on Nov. 20, 2027. The facility is secured by a promissory note worth SAR 8.19 million.

 

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Tharwah explained that this financing agreement aims to issue letters of guarantee for government and quasi-government entities, in addition to funding receivables.

 

There are no related parties to the deal, the statement said.

 

Tharwah vowed to announce any material updates regarding this agreement in due course.

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