Saudi hardware retailer and wholesaler signs 100 mln riyals Islamic financing
The Saudi Company for Hardware has signed 100 million riyals ($26.67 million) worth of Islamic financing.
The five-year Shariah-compliant facilities were obtained from Gulf International Bank, said the retailer and wholesaler of hardware in a Saudi stock exchange filing on Thursday (Dec 19).
The financing will go towards working capital and capital expenditure requirements as well as to settle other bank loans, said the company.
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