Wafrah secures SAR 50M facilities from Riyad Bank

10/06/2024 Argaam
Logo ofWafrah for Industry and Development Co.

Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. obtained Shariah-compliant credit facilities at a total value of SAR 50 million from Riyad Bank, according to a statement to Tadawul.

 

The facilities have a three-year term and are secured by a promissory note. There are no related parties.

 

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The Islamic financing agreement is for issuing all types of credits, direct payment of invoices, and financing working capital, Wafrah added.

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