Saudi Arabia's Lana Medical Secures $1.3 Million Financing
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Mohammed Al-Matrudi, Executive Director of Lana Medical Company
Lana Medical Co. has successfully secured a SAR 5 million (approximately USD 1.33 million) Shariah-compliant credit facility from Banque Saudi Fransi, according to a statement issued to Tadawul.
The financing agreement, which spans a 1,080-day term, is backed by promissory notes. The funds will be used to support the company's projects, specifically to cover the final letters of guarantee if necessary.
Lana Medical also clarified that there are no related parties involved in the deal.
Source: Eye of Riyadh
Lana Medical
Since the establishment of Lana, it has grown expeditiously to become a top Medical Company in the Middle Eastern region. Our Medical Devices are customized for the GCC Region, Licensed, and approved as per the High standards set by the various Government Entities. We provide nothing but the best to our Clients ensuring they in turn can provide quality services to their customers.
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