TAM secures SAR 20M Islamic facilities from Bank Albilad

25/01/2024 Argaam

TAM secures SAR 20M Islamic facilities from Bank Albilad

Logo of TAM Development Co.

TAM Development Co. signed a Shariah-compliant facilities agreement for SAR 20 million with Bank Albilad. 

 

The agreement, which dates back to Jan. 7, was signed on Jan. 24. It is valid for 12 months, TAM said in a statement to Tadawul. 

 

A promissory note was provided to guarantee 109% of the total value of the facilities.

 

The finance aims to provide bank guarantee facilities and short-term financing, if necessary, TAM added.

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