Tam Development signs banking facilities agreement with Bank Albilad at SAR 20 million

Tam Development Company has officially declared signing a banking facilities agreement with Bank AlBilad, aligning with the principles of Islamic Sharia. The agreement entails a substantial amount of SAR 20 million, primarily earmarked for streamlining the process of acquiring bank guarantees and facilitating short-term financing, as deemed necessary.

The company has specified that the financing arrangement spans a period of 12 months, backed by a promissory note guarantee equivalent to 109% of the total value of the facilities.