Care obtains long-term Murabaha financing of SAR 350 mln

National Medical Care Co. announces obtaining a long term Murabaha financing in compliance with Islamic Sharia from Gulf International Bank GIB of SAR 350 million to finance the Company’s working capital needs and support its strategy through financing acquisitions and expansion.

The Company explained that the Financing duration as following:

1. SAR 100 million revolving loan renewed periodically.

2. SAR 250 million long term loan for a period of 10 years with grace period of 1 year.

The Company added that the Guarantees offered for the financing is promissory note to GIB as guarantee, confirmed that no related parties are involved with this agreement.