Riyadh – Mubasher: Fawaz Abdulaziz Al Hokair Co signed on Tuesday a 7-year Murabaha agreement with Al Rajhi Bank at a value of SAR 1.25 billion ($333 million).
The agreement aims to repay all short-term loans at 6-month intervals, the firm told the Saudi Stock Exchange (Tadawul) on Wednesday.
The Tadawul-listed company has awarded the finance through a promissory note, and will deposit a portion of its sales in Al Rajhi Bank.
