Osool & Bakheet signs agreement to amend existing facilities with Banque Saudi Fransi

Osool & Bakheet Investment Company announced on Monday the signing of existing facilities amendment agreement with Banque Saudi Fransi, transforming it into a sharia compliant financing agreement with SAR 50 million.

The Company explained on Tadawul that the financing period is 180 days, and aims to finance the company’s current and future operations, support working capital, and issue Islamic payment guarantee letters.

The Company indicated also that there are no outstanding obligations / amounts based on the facilities agreement or financing agreement.