2 days ago
Saudi SIDC unit signs Islamic facility for $2.6mln
The Saudi Industrial Development Co. (SIDC) said its subsidiary, Emmdad Logistic Services Co., has signed an Islamic financing agreement for 10 million riyals ($2.7 million).
The five-year Shariah-compliant deal with the kingdom's Social Development Bank will be used to support the company's capital expansion.
The company did not disclose the rate at which the facility was agreed.
(Writing by Brinda Darasha; editing by Seban Scaria)
