Riyadh – Mubasher: Zahrat Al Waha for Trading Company inked a Sharia-compliant financing facility and banking services agreement worth SAR 60 million with Saudi National Bank (SNB).
Valid until 28 February 2023, the funding aims to provide letters of credit for the purchase of raw materials, according to the Saudi Exchange’s (Tadawul) filing on Tuesday.
The facility agreement is secured by a promissory note worth the value of the total loan limit.
It is noteworthy to mention that Zahrat Al Waha renewed a loan agreement of up to SAR 67.56 million with the Saudi Investment Bank (SAIB) in November 2021.
