Zahrat Al Waha renews SAR 60 mln credit facility with SNB

06/06/2023 Argaam
Logo of Zahrat Al Waha for Trading Co.

Logo of Zahrat Al Waha for Trading Co.

Zahrat Al-Waha Trading Co. announced today, June 6, renewing an Islamic financing and banking services agreement with Saudi National Bank (SNB) at a value of SAR 60 million, according to a statement to Tadawul.

 

The financing duration will start from June 6, 2023, until February 28, 2024, the statement said, adding that offered guarantees are promissory notes worth the total facility amount.

 

Zahrat Al Waha indicated that the objective of the facility is opening letters of credit for purchasing raw materials.

 

There are no related parties to the deal, it noted.

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