Qomel renews credit facilities deal worth SAR 67.6M with SNB

Qomel Co. renewed a SAR 67.63 million Shariah-compliant credit facilities agreement with Saudi National Bank (SNB). 

According to a statement to Tadawul today, July 31, the one-year facility is guaranteed by a waiver of the revenues of the financed projects and a promissory note. 

The agreement aims to finance the company's existing projects, the statement pointed out, adding that there are no related parties.