Al-Nadi Sports Signs 70M Riyal Islamic Loan

Al Ahly Sports Clubs Company has signed an Islamic financing agreement worth 70 million Riyals with Alawwal Bank, aimed at supporting its expansion plans and establishing new sports clubs. The financing includes a one-year grace period, with a total duration of up to five years, and complies with the Shariah-compliant Tawarruq structure, secured by an I.O.U. for the facility amount. The purpose of the financing is to fund capital and investment expenses to enhance the company's presence in the sports market.

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