BinDawood obtains a Murabaha financing from Emirates NBD Bank worth 300 million riyals

BinDawood Holding Company announced that it has obtained a Murabaha financing compatible with Islamic law from Emirates NBD Bank – Saudi Arabia, to finance part of the deal to acquire 100% of the shares of Zahrat Al Rawda Pharmacies Limited.

The company said in a statement on “Tadawul” that the value of the financing is 300 million riyals, indicating that the financing period is 3 years, with the possibility of early repayment before the end of the period.

The aim of this agreement – according to the company – is to finance part of the deal to acquire 100% of the shares of Zahrat Al Rawda Pharmacies Limited, in addition to financing the remaining part through the company’s internal sources.