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Tam Development Co. Announces Obtaining a bank facility in compliant with Islamic sharia
9570
TAM DEVELOPMENT
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1445/04/29 13/11/2023 08:04:59
| Element List | Explanation |
|---|---|
| Introduction | Tam Development Company Announces the Signing of Sharia Compliant Banking Facilities Agreement |
| Date of obtaining the funding | 2023-11-12 Corresponding to 1445-04-28 |
| Financing entity | Bank Aljazira |
| Financing amount. | 15 million Saudi riyals |
| Financing duration. | 12 Months |
| Guarantees offered for the financing | A promissory note worth 110% of the total value of the facilities |
| Financing objective | Bank guarantees facilities and Short-term Finance facility (if needed) |
| Related Parties | Not Applicable |
| Additional Information | The agreement is dated October 24, 2023, but the signatures on the agreement were not completed until November 12, 2023. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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