Farm Superstores renews SAR 150 mln Islamic facility with Alinma Bank

06/09/2020 Argaam

Saudi Marketing Co. (Farm Superstores) renewed an SAR 150 million Shariah-compliant facility agreement with Alinma Bank, the company said in a bourse statement on Sunday.

 

The loan term starts from Aug. 24, 2020 to Aug. 31, 2021.

 

The credit facility, which is secured by a promissory note, will be used to finance working capital needs, Farm Superstores said.

 

The deal has no related parties, it added.

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