Dur Hospitality said it has inked a SAR 150 million Shariah-compliant Tawarruq deal with Riyad Bank to finance the company’s expansions requirements.
The contract will last for one year until October 2, 2018, the company said in a statement to the Saudi bourse.
The amount is covered by a promissory note by Dur.
Tawarruq is a type of loan facility typically used in Islamic banking.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}