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)
#SAUDI #INVESTMENT #BANKING #ISLAMICFINANCE
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2020
