Halwani Brothers conclude agreement with Gulf International Bank for SAR120

Halwani Brothers announced that it has concluded an Islamic Shariah-compliant financing agreement with Gulf International Bank with a total value of the financing facilities is SAR 120 Million, as follows: which:
-SAR 100 Million facilities for working capital financing.
-SAR 20 Million facilities as Treasury Products.
Halwani Brothers announced on Monday on “Tadawul” that the duration for the working capital facility is one year/renewable on a yearly basis – Treasury Products for 5 Years.
It said that the guarantees offered for the financing are a promissory note for the total facility amount, indicating that there are no related parties.