The Clap SPIMACO (2070), reported that it has signed credit facilities agreements that are compliant with Islamic Sharia.
The Deets SPIMACO revealed that the credit facility agreement was with 3 banks, and for a total value of SAR 1.26 billion. The banks were Al Bilad Bank, Gulf International Bank, and Banque Saudi Fransi.
Credit Facilities The short-term facilities from banks are intended to finance SPIMACO’s working capital requirements.
The long-term facilities will contribute to financing the company’s future expansions and investments.