Abdul Mohsen Al Hokair Group Company for Tourism and Development has agreed on an agreement with Saudi British Bank to reschedule Islamic financing provision costing 89.02 million riyals ($24 million).
In a classifying on Saudi Tadawul, the company provided the rescheduling was made to help its cash flow situation.
Of the two Murabaha offices that were rescheduled, one for 74.67 million riyals was rescheduled to five years term’s with one year’s beauty period, while the other, worth 14.35 million riyals was rescheduled to six years with one year’s elegance period, from four and five years individually prior.