Zahrat Al Waha inks SAR 20 mln Islamic facility with SAIB

09/09/2019 Argaam

 

Zahrat Al Waha for Trading Co. signed on Sept. 8 a SAR 20 million sharia-compliant credit facility with Saudi Investment Bank (SAIB), the company said in a statement to Tadawul.

 

The three-year loans, which will be re-paid quarterly, will be used to finance machinery and equipment for expansion.

 

The loan was secured against promissory notes, and the deal has no related parties, the statement added.

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