TAM signs SAR 15 mln credit facility agreement with Bank AlJazira

TAM Development Co. signed on Nov. 12 a Shariah-compliant banking facilities agreement with Bank AlJazira worth SAR 15 million.

The 12-month facility is covered by a promissory note worth 110% of the total value, the company said in a statement on Tadawul.

The facility aims to facilitate bank guarantees and short-term financing, if required.

The agreement is dated Oct. 24, 2023.

Source : Argaam