Quara Finance Co. Announces Obtaining Sharia-complaint Credit Facilities Agreement with Alrajhi Bank
| Element List | Explanation |
|---|---|
| Introduction | Quara Finance Co. Announces Obtaining Sharia-complaint Credit Facilities Agreement with Alrajhi Bank |
| Date of obtaining the funding | 2025-07-20 Corresponding to 1447-01-25 |
| Financing entity | Alrajhi Bank |
| Financing amount. | (100,000,000) Saudi Riyals |
| Financing duration. | 4 Years |
| Guarantees offered for the financing | A Promissory note, Guarantee of liability and joint performance from the owners
Assignment of receivables to cover 125% of the outstanding balance of the facilities |
| Financing objective | The purpose of this facility is to expand and increase the sales volume in line with the company's strategy and future plans |
| Related Parties | N/A |
| Additional Information | The Company confirms that the facility agreement is a continuous transaction that is carried out in the normal course of business and is in accordance with prevailing commercial conditions and without any preferential terms |
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