Saudi Parts Center signs SAR 30 mln credit facilities agreement with SAIB

26/09/2022 Argaam

Logo of Saudi Parts Center (SPC)

Saudi Parts Center (SPC) signed today, Sept. 26, a Shariah-compliant credit facilities agreement worth SAR 30 million with The Saudi Investment Bank (SAIB).

 

The agreement is valid from the signing date until July 30, 2023, SPC said in a statement to Tadawul, noting that a promissory note was provided to fully guarantee these facilities.

 

The facilities will be used to import and purchase materials to finance working capital requirements. There are no related parties to the agreement, SPC added.

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