Riyadh – Mubasher: Aseer Trading, Tourism, and Manufacturing Company (Aseer) has obtained a short-term revolving Murabaha financing worth SAR 200 million from Al Rajhi Bank.
The company will use the funding to meet working capital requirements, according to a recent bourse filing.
The Sharia-compliant loan will extend for one year starting from the signing date, with a possibility to be renewed on an annual basis.
The loan will be guaranteed by order notes and pledge of shares.
It is noteworthy to mention that in earlier December, Aseer got Murabaha funding worth SAR 200 million from Saudi Investment Bank (SAIB).
