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)
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