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Al-Adwaa Sports Signs 70M Riyal Islamic Loan
Al Al Adwaa Sports Clubs announced that it has secured credit facilities amounting to 70 million riyals through the Islamic Tawarruq system, aimed at financing capital and investment expenses for building and expanding new sports clubs. The agreement was signed with the First Saudi Bank for a period of five years, with a one-year grace period. This initiative aims to enhance the company's market position and expand the reach of its brand, with guarantees including an all-purpose promissory note for the amount of the financing.
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