Logo ofArmah Sports Co.
Armah Sports Co. signed today, May 21, a shariah-compliant Murabaha financing facility agreement worth SAR 110 million with Saudi National Bank (SNB). 
In a statement to Tadawul, the company said the financing has a five-year term, noting that a promissory note and a real estate mortgage were provided as collateral.
The facility will be used to finance working capital needs, as well as equipment, décor, and furniture for the company’s clubs, the statement added.
Logo ofArmah Sports Co.
Armah Sports Co. signed today, May 21, a shariah-compliant Murabaha financing facility agreement worth SAR 110 million with Saudi National Bank (SNB).
In a statement to Tadawul, the company said the financing has a five-year term, noting that a promissory note and a real estate mortgage were provided as collateral.
The facility will be used to finance working capital needs, as well as equipment, décor, and furniture for the company’s clubs, the statement added.
