Taiba Holding announces that it has secured Shariah-compliant financing

Taiba Holding announces the completion of its procedures on Sunday 18/7/2014 on a bank loan in accordance with the provisions of the Islamic Shari’a according to the Tawarruq formula of Banque Saudi Fransi in the amount of 400 million four hundred million riyals for a period of one year, renewable for Under the same conditions, in order to enhance the investments of Taiba Holding. The guarantees provided for the loan referred to are a bond in the amount of the financing as well as a pledge of securities owned by Taiba Industrial Company, a subsidiary of Taiba Holding.