Saudi Tihama inks $1.33mln Murabaha deal with firm

Tihama will use the fund in financing its working capital and supporting the operating activities of the company and its subsidiaries

  
Conceptual photo for Islamic finance, economy and profit. Image for illustrative purposes.

Conceptual photo for Islamic finance, economy and profit. Image for illustrative purposes.

Getty Images/Imran Kadir

Riyadh –Tihama Advertising and Public Relations Company signed a Sharia-compliant Murabaha contract with a Saudi company on Monday.

The contract is valued at SAR 5 million, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Monday.

Tihama will use the fund in financing its working capital and supporting the operating activities of the company and its subsidiaries.

The two-year facility will be repaid on a quarterly basis, the company noted.

Source: Mubasher

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