Zahrat Al Waha signs SAR 60 mln Islamic facility agreement with SNB

Logo of Zahrat Al Waha Trading Co.

Zahrat Al Waha Trading Co. signed on March 8 an Islamic financing and banking services agreement with Saudi National Bank (SNB) for SAR 60 million, according to a bourse statement.

The financing period is valid until Feb. 28, 2023, and the amount is guaranteed by order notes.

The fund is intended to open line of credit for purchase of raw materials, the statement noted, adding that there are no related parties to the agreement.