Seef Properties Completes BHD 4.5 Million Murabaha Facility with AUB

Seef Properties (SP) in Bahrain has entered into a BHD 4.5 million Shariah-compliant Murabahah facility arrangement with Bahrain's Ahli United Bank (AUB), to fund its working capital requirements.

According to a statement on Bahrain Bourse (BHB), the Murabahah agreement will be for a period up to two years, while each drawdown will have a minimum tenure of six months and not more than twelve months from the drawdown date.

The Murabahah facility is expected to strengthen SP’s financial position through increments to its cash reserves. According to the BHB, the facility is expected to be managed within appropriately controlled liquidity and leveraging ratios.

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