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Saudi firm Al Kifah raises $160m from Islamic loan facility

Saudi family-owned firm Al Kifah Holding has raised SR600m ($159.99m) from a syndicated Islamic loan facility, Reuters has reported. Al Kifah said the loan will strengthen the company's balance sheet and facilitate its planned growth. GIB, National Commercial Bank, Samba Financial Group and Banque Saudi Fransi acted as lead arrangers, while GIB Capital, the investment arm of GIB, was the financial advisor to the building and construction materials producer on the Murabaha facility.