Riyad Bank has approved the restructuring of Al Kathiri Holding Company’s Shari’ah-compliant credit facility agreement.
In a bourse filing, Al Kathiri Holdings stated that the company has amended and renewed its Shari’ah financing agreement with Riyad Bank, increasing the value of facility from SAR 3 million to SAR 4 million.
The loan will be used to finance the company’s working capital and to meet other business requirements.
The facility’s period has been extended to 12 June 2021 and can be extended for further periods.
Source Islamic Business&Finance