Saudi Ahli bank signs $40 million financing agreement with Nasama company
Saudi Arabia, Business, 5/12/1998

The Saudi Ahli trade bank adopted a project for small construction and corporations in Saudi Arabia through presenting new banking facilities that guarantee the technological requirements of small construction and corporations, aiming at encouraging such projects.

The regional manager for the southern and western regions at the Ahli trade bank, Ali El-Sehili, said today that the support will be granted according to the needs of the corporations that want to open credit on present guarantees.

The Ahli trade bank has signed with the Nasama company a financing agreement with the system of renting valued by $40 million dollars for buying equipment that the Nasama Company will make use of in implementing a number of important projects.

The agreement stipulates a rental period that ends in ownership after three years, this includes the equipment that Nasama company requires during the period of agreement, and by this agreement the volume of financing operations in the bank reaches to about $1 billion.

Previous Stories:
  Establishing a Saudi - Egyptian insurance company   (3/31/1998)
  Saudi billionaire raises shares in Planet Hollywood   (3/31/1998)
  Prince Walid's visit opens door for investments in Palestine   (2/11/1998)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search