Riyadh, Saudi Arabia: Morabaha Marina Financing Company (“MRNA”, or “the Company”), a fully independent non-banking financing institution (“NBFI”) in the Kingdom of Saudi Arabia, is pleased to announce it has completed the timely repayment of its SAR 178 million Series 1 Sukuk at maturity on 12 February 2023.
MRNA issued the five-year Series 1 Sukuk in February 2018 as part of its Sukuk Issuance Program, which aims to accelerate its growth plans, strengthen its financing capacity and support its goal to enable the development of an integrated financial ecosystem in line with Saudi Vision 2030.
Waleed Al-Ghumlas, Managing Director and Board Member of MRNA, said: “As one of the first NBFIs to tap the Islamic debt capital markets in the Kingdom through our Sukuk Issuance Program, we are pleased to announce the full repayment of our Series 1 Sukuk – on schedule and at maturity. This important achievement reflects our very strong liquidity and financial position, the quality of our credit portfolio, and our commitment to the investment community. I would like to thank our Sukuk-holders for their support and confidence in our business and its growth.”
Previously, in December 2022, MRNA completed the timely redemption of its 3-year SAR 80 million Series 2 Sukuk, also on schedule and at maturity.
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About MRNA
MRNA is a pioneering sharia-compliant financing platform offering a wide range of flexible and innovative solutions, with commercial registration (1010337706) licensed by the Saudi Central Bank No. 22/ASH/201410 dated 19 Thul-Qi’dah 1435H (corresponding to 14 September 2014). Established in 2012, MRNA has a head office in Riyadh and 15 branches located in 13 cities across Kingdom. It specializes in providing flexible financial leasing, small and medium enterprises financing, productive assets and consumer financing, subject to control and supervision of The Saudi Central Bank (SAMA)
For more information: http://www.mrna.sa
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Theodora Gabrah
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