Abdul Latif Jameel Group

SABB, ALJ sign Islamic finance deal

The Saudi British Bank (SABB) recently signed Islamic finance agreements totally valued at SR2 two billion with Abdul Latif Jameel Group of companies.
The deal includes three securitization agreements for the benefit of the United Installment Sales Co. Ltd. (UIS), through which SAAB will buy a group of vehicles leased to UIS clients, appoint UIS as a management and collection agent, and a stock finance Murabaha agreement.

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