Middle East Healthcare Co. signs Murabahah agreement with SAMBA Financial Group
Middle East Healthcare Co. has signed a SAR 300 million Murabahah financing agreement with Samba Financial Group.
According to an announcement on Tadawul, the loan agreement was signed on 27 December 2016. Holding a three-year period, the loan ends on the 31 December 2019 and will be used for the construction and equipments of Saudi German Hospital Dammam.
The guarantee for the loan is a promissory note from the company, with repayments to be made in 14 semi-annual instalments starting after the 36 months grace period. The first payment is to be made in June 2020 and last payment in December 2026.