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Al-Tasneef Revises 2B Riyals Murabaha Deal with Banque Saudi Fransi
National Manufacturing Company announced the rescheduling of a Murabaha loan worth two billion Saudi Riyals with the Saudi French Bank. The financing that was originally agreed upon in January 2019 has been extended by an additional 7 years, with repayment schedules aligned with the company’s cash flows. The deal was conducted as part of the company's normal business operations and without any preferential conditions, and promissory notes were used as collateral against the financing.
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