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Banan Real Estate Company announces the signing of a Sharia-compliant credit facility agreement
19/08/2024
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Company announces the signing of a credit facilities agreement with Riyad Bank in compliance with Sharia regulations |
| Date of obtaining the funding | 2024-08-19 Corresponding to 1446-02-15 |
| Financing entity | Riyad Bank |
| Financing amount. | 50 million Saudi riyals |
| Financing duration. | Five years |
| Guarantees offered for the financing | Promissory note in addition to the continued mortgage of some previously mortgaged properties |
| Financing objective | Business Expansion Financing |
| Related Parties | none |
| Additional Information | The credit facility agreement documents are dated 06.08.2024 AD, and the signing of the agreement was completed on Monday 19.08.2024 AD. |
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