“Jazadco” renews a facility agreement with the Arab National Bank for 15 million riyals

Yesterday, Jazan Development and Investment Company (Jazadco) renewed a credit facility agreement compatible with the provisions of Islamic Sharia with the Arab National Bank.

The company said in a statement on its website "Saudi Arabia trading"The value of the financing is 15 million riyals, while the duration of the financing is 9 months from the date of withdrawing the loan.

She added that the guarantees provided in exchange for the financing are: a promissory note and a mortgage.

She stated that the aim of the agreement: to finance the direct transfer of the purchase of materials, tools, equipment, ponds and inventory for aquaculture and agriculture to support the business in exchange for a copy of the invoice acceptable to the bank.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter