Zahrat Al Waha inks SAR 40 mln Islamic facility with SAIB

08/03/2018 Argaam

 

Zahrat Al Waha for Trading Co. on March 4 signed a SAR 40 million sharia-compliant credit facility with Saudi Investment Bank (SAIB), the company said in a statement to Tadawul on Thursday.

 

The loan facility – which is valid from from March 4, 2018 to March 31, 2019 – will be used to finance working capital requirements and import raw materials.

 

The loan was secured against promissory notes.

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