Riyadh – Maharah Human Resources Company has secured long-term Sharia-compliant Murabaha loans from Al Rajhi Bank and Saudi British Bank (SABB) to finance the company's future acquisitions.
Maharah obtained a long-term loan of SAR 181.5 million from Al Rajhi Bank and a long-term loan of SAR 181 million from SABB, according to a stock exchange statement on Sunday.
The financing term extends over seven years, including a grace period of two years.
The two transactions are guaranteed by corporate promissory notes covering the total facilities value, the statement read.
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