First Avenue for Real Estate Development Co. says investors don’t need to purify any of the capital gains or profit from stock trading, as it is 100% Shariah compliant
First Avenue for Real Estate Development Co., which is listed on the Nomu-Parallel Market, announced that the company’s stock is 100% halal, and Shariah-compliant, as investors don’t need to purify any of the capital gains or profit from its trading, according to a statement to Tadawul.
The company’s financial transactions, including credit facilities, deposits, and financing arrangements, are fully compliant with Shariah principles, the statement added.
The credit facilities, arranged by Banque Saudi Fransi (BSF) at a total value of SAR 86 million, are structured as Islamic Tawarruq, said the company, adding that the facilities at SAR 170 million from Alinma Bank and those at SAR 168 million from Al Rajhi Bank are structured as Islamic Murabaha.
The company further noted that it signed Shariah-compliant Murabaha agreements as regards deposits at The Saudi National Bank (SNB) and Banque Saudi Fransi.
First Avenue for Real Estate Development Co. says investors don’t need to purify any of the capital gains or profit from stock trading, as it is 100% Shariah compliant
First Avenue for Real Estate Development Co., which is listed on the Nomu-Parallel Market, announced that the company’s stock is 100% halal, and Shariah-compliant, as investors don’t need to purify any of the capital gains or profit from its trading, according to a statement to Tadawul.
The company’s financial transactions, including credit facilities, deposits, and financing arrangements, are fully compliant with Shariah principles, the statement added.
The credit facilities, arranged by Banque Saudi Fransi (BSF) at a total value of SAR 86 million, are structured as Islamic Tawarruq, said the company, adding that the facilities at SAR 170 million from Alinma Bank and those at SAR 168 million from Al Rajhi Bank are structured as Islamic Murabaha.
The company further noted that it signed Shariah-compliant Murabaha agreements as regards deposits at The Saudi National Bank (SNB) and Banque Saudi Fransi.
