Saudi's Taiba Investments secures $361.8mln financing from Al Bilad Bank

The company said in a statement that the financing period will be 14 years

  

Saudi Arabia’s Taiba Investments Company signed a 1.357 billion Saudi riyals ($361.8 million) Islamic financing agreement with Al Bilad Bank.

The Saudi-listed company, that has interests in real estate property investment and development, said in a statement on Tadawul that the financing period is 14 years.

The company had announced a net profit after zakat and tax of 50.57 million Saudi riyals for Q1 2020, compared to 31.29 million Saudi riyals in Q1 2019.

(Writing by Gerard Aoun; editing by Seban Scaria)

(gerard.aoun@refinitiv.com)

#SAUDI #INVESTMENT #BANKING #ISLAMICFINANCE

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