“FIPCO” signs a facilities agreement with Al Rajhi Bank worth 50 million riyals

The Packaging Materials Manufacturing Company (FIPCO) signed a credit facility agreement compatible with Islamic Sharia with Al Rajhi Bank.
The company said in a statement on the Saudi Tadawul: The value of the financing is 50 million riyals.
She added that the financing period is 12 months from the date of signing the agreement, ending on November 30, 2025.
It stated that the guarantees provided in exchange for financing: signing a promissory note for the value of the facilities.
It stated that the product is a short-term revolving facility to finance working capital.