Saudi news

“Zahrat Al-Waha” announces the renewal of a credit facilities agreement with “Alinma Bank” for 60 million riyals

Zahrat Al-Waha Trading Company announced the renewal of the Sharia-compliant credit facilities agreement from Alinma Bank, at a value of 60 million riyals.

The company said in a statement on “Tadawul Saudi Arabia”, today, Thursday, that the financing goal is to open documentary credits for the purchase of raw materials, and its period is from 01-19-2023 to 10-31-2023.

She added that the guarantees provided in exchange for financing are a promissory note submitted by the company for the total value of the facilities.

She indicated that the limit for opening credits and short-term facilities to finance working capital has been renewed with the same value of 60 million riyals.

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