The Saudi Ceramic Company announces obtaining of Murabaha financing in compliance with Islamic Sharia through a number of banks with the aim of refinancing existing loans

2021-07-15 16:02:19

Element ListExplanation
Date of obtaining the funding 2021-07-15 Corresponding to 1442-12-05
Financing entity The Saudi British Bank and Bank Saudi Fransi
Financing amount. 592 million Saudi riyal
Financing duration. A 5-year Murabaha agreement to be repaid on a quarterly basis through 20 installments distributed over the next five years.
Guarantees offered for the financing The financing agreements do not include any mortgages or financial guarantees
Financing objective Primarily, the goal is to refinance existing loans in order to reduce the interest costs, in addition to meeting the Company's future funding needs.
Related Parties There are no related parties.