“SACO” signs a facilities agreement with the National Bank worth 150 million riyals

Today, the Saudi Tools Company (SACO) signed a credit facility agreement compatible with Islamic Sharia with the National Bank of Saudi Arabia.

The company said in a statement on its website "Saudi Arabia trading"The agreement is within the framework of the company’s efforts to diversify sources of financing.

She added that the value of the financing is 150 million riyals, while the duration of the financing is 12 months.

She explained that the guarantees provided in exchange for the financing: a promissory note worth 165 million riyals.

She stated that the facilities are to finance working capital and documentary credits for purchases.

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