Zahrat Al Waha renews SAR 144 mln Islamic facility with ANB

16/05/2018 Argaam

 

Zahrat Al Waha for Trading Co. renewed today a SAR 144.1 million sharia-compliant credit facility with Arab National Bank (ANB), the company said in a statement to Tadawul.

 

The loan facility – which is valid from May 16, 2018 to Feb. 28, 2019 – will be used to import raw materials in order to finance working capital requirements and buy equipment, land and build warehouses.

 

The loan was secured against a promissory note, the statement said, adding that the deal has no related parties.

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