Arabi Enertech Company, a subsidiary of Arabi Holding Group, has renewed three Murabaha agreements included in a banking facilities contract with a local bank, with a total value of KD 14,141,008 (Fourteen million, one hundred forty-one thousand and eight Kuwaiti Dinars only).
The renewal comes after partial repayment of the Murabaha principal amounts and their profits. All Murabaha agreements are set to mature on December 13, 2025.
Arabi Holding noted that the financial impact of this material information is reflected in the continued classification of the renewed Murabaha agreements as short-term financial liabilities.