Signed with “Dutch” and ”Al-Ahli” banks Al-Khodari renews bank facilities worth one billion riyals

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Abdullah Abdulmohsen Al-Khodri Sons Company signed two agreements to renew Islamic financing facilities with the Saudi Dutch Bank and the National Commercial Bank worth more than one billion riyals. It signed an agreement with the ”Dutch” with a value of 853 million riyals, for the purpose of providing a guarantor commitment, financing capital and working capital needs for specific projects of the company and for the company's business objectives in general, indicating that these facilities include Murabaha financing, documentary credits and multi-purpose guarantees. The credit facilities granted by the bank include 43% of the value of the facilities as Murabaha loans and 57% of the value of the facilities as multi-purpose guarantees for a financing period not exceeding three years according to the duration of the various funded projects, while the Murabaha facilities will be repaid in percentages ranging from 20 to 50% from the proceeds of the funded project contracts.

The company also announced that the facility is designed to finance the capital and working capital needs of specific projects of the company and the company's business objectives in general, indicating that the facility includes Murabaha financing, letters of credit and multi-purpose guarantees. The company also announced that it has signed a similar agreement with the National Commercial Bank to renew Islamic financing facilities worth SAR 282 million, including 28% of the facility value as Murabaha loans and 72% of the facility value as multi-purpose guarantees.

The company also announced that it has signed a similar agreement with the National Commercial Bank to renew Islamic financing facilities worth SAR 282 million, including 28% of the facility value as Murabaha loans and 72% of the facility value as multi-purpose guarantees.