Riyadh – Mubasher: Jabal Omar said Sunday that it has started negotiations with the Saudi ministry of finance to convert a SAR 3 billion commercial loan into Sharia-compliant Murabaha facility.
The company expects the conversion process to be completed in the third quarter of 2017, while maintaining the same value of the loan, according to a bourse filing.
Jabal Omar’s stock rose on Thursday by 1.32% to SAR 66.95.
