Zahrat Al Waha renews SAR 60M credit facility with Alinma Bank

06/02/2024 Argaam

Zahrat Al Waha renews SAR 60M credit facility with Alinma Bank

Logo of Zahrat Al Waha for Trading Co.

Zahrat Al Waha for Trading Co. renewed a Sharia-compliant credit facilities agreement worth SAR 60 million with Alinma Bank, the company said in a statement to Tadawul.

 

The credit facility term starts from Feb. 6 to Oct. 31, 2024. The facilities are fully guaranteed by promissory notes.

 

The company will use financing to open letters of credit for the purchase of raw materials.

 

There are no related parties to the contract, the statement added.

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