Taiba secures SAR 400m credit from Riyad Bank:

05/01/2014 Tadawul

 

 Taiba Holding Company announced today on tadawul signing a Sharia compliant credit agreement with Riyad Bank for SAR 400m.

The Tawarruq Sharia compliant agreement is a renewable 1 year credit and is covered by a promissory note and a mortgage of securities held by AL Theraa AL Makeen (Taiba affiliated co.).

The amount is to be used in enhancing Taiba’s investments.

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