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Saudi brokerage platform Derayah Financial Company has secured a 500 million riyals ($133 million) sharia-compliant credit facility with Saudi National Bank to fuel its expansion.
The facility will help to expand the firm’s core operating activities including brokerage services and product suite by offering direct margin lending products.
Derayah has offered a promissory note as a guarantee.
(Writing by Bindu Rai, editing by Daniel Luiz)
