FILLING & PACKING MATERIAL. MFG. CO. (FIPCO) ANNOUNCES SIGNING OF ISLAMIC SHARIA COMPLIANT CREDIT FACILITY AGREEMENT WITH ALRAJHI BANK


Element ListExplanation
Date of obtaining the funding2024-12-16 Corresponding to 1446-06-15
Financing entityALRAJHI BANK
Financing amountSR 50,000,000
Financing duration12 months from the date of signing the agreement, ending on 30/11/2025
Guarantees offered for the financingSigning of a promissory covering the whole value of the credit facility
Financing objectiveThe product is a short-term revolving facility to finance working capital
Related PartiesNo related parties are involved in this agreement
Additional InformationThe agreement was concluded on Dec. 16, 2024, and the relevant legal procedures and obtaining signatures were completed, and the final version of the agreement was received on Jan. 06, 2025