Riyadh – Mubasher: Zahrat Al Waha for Trading Company has renewed the credit facilities agreement worth SAR 67.56 million with Saudi Investment Bank (SAIB).
In line with the Sharia regulations, the financing will extend from 2 November 2021 to 31 July 2022, according to a bourse filing on Wednesday.
Through the credit facilities, Zahrat Al Waha seeks to purchase and import raw materials required for manufacturing activities, machines, and injection molds to finance capital expansions.
It is noteworthy to mention that during the third quarter (Q3) of 2021, the company reported net profits after Zakat and tax of SAR 7.47 million, higher by 3.7% than SAR 7.19 million in Q3-20.
