“TAM” signs a facilities agreement with Riyad Bank worth 50 million riyals
Today, Tam Development Company signed a banking facilities agreement compatible with the provisions of Islamic Sharia with Riyad Bank.
The company said in a statement on its website: "Saudi Arabia trading"The value of the financing is 50 million riyals, while the duration of the financing is 12 months.
She added that the guarantees provided in exchange for the financing: a promissory note worth 100% of the value of the facilities.
She indicated that the aim of the financing: to support TAM Company’s expansion plans and enhance its sustainable growth, by financing its current and future projects, facilitating various bank guarantees, and providing flexible financing solutions that enhance the working capital and financial flexibility of the company.
She explained that this financing would contribute to developing the company’s business, raising its operational efficiency, and enhancing its ability to invest in future growth opportunities.
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