‎“Mahara” obtains Murabaha loans worth SR362.5 mln from Al-‎Rajhi Bank and “SABB” ‎

Maharah Company announced that it has obtained long-term Murabaha loans (compliant with Shariah regulations) from Al Rajhi Bank and the Saudi British Bank (SABB) to finance the company’s future acquisitions.

The company said in a statement today on “Tadawul” that the financing period is 7 years (including a two-year grace period), indicating that the guarantees provided against the financing are represented in promissory notes issued by the company for the full value of the credit facilities.

There are also no related parties to the agreement, and there are no administrative or initial expenses for the facilities.