Riyadh – Mubasher: Aseer Trading, Tourism, and Manufacturing Company (Aseer) has obtained a short-term revolving Murabaha financing worth SAR 200 million from Saudi Investment Bank (SAIB).
The financing will enable the company to repay an existing short-term Murabaha financing worth SAR 140 million with one of the local banks and the remaining SAR 60 million to enhance the company’s cash flow position, according to a bourse filing on Wednesday.
The company has been granted the financing for one year and could renew it on an annual basis.
