Al Kathiri Holding Co. Announces Obtaining a a approving of The National Commercial Bank renewal of Shariah-compliant credit facilities agreement

IntroductionAl Kathiri Holding Co. announces amended and renewal of bank facility agreement (Shariah-compliant) with The National Commercial Bank and Increase the value of facilities from SR 3,000,000 to SR 5,000,000 as follows:
Date of Receiving the Credit Facility2020-01-06 Corresponding to 1441-05-11
FinancierThe National Commercial Bank
Credit Facility valueSR 5,000,000 after add of SR 2,000,000 to the facilities Value
Credit Facility durationThe facility period extends to 31-08-2020 and can be extended for further periods
Guarantees Provided for Credit FacilityPromissory notes
Purpose of the Credit FacilityThe purpose of this facility is to finance the company’s working capital and to meet other business requirements
Related PartiesNo related parties on this agreement
Additional InformationThe total amount of facilities granted by The National Commercial Bankto the Company is SR 5,000,000