Saudi's Dallah Health secures $240mln Shariah-compliant finance

Healthcare provider says long-term Murabaha facility is for future acquisitions and expansion

  
Conceptual photo for Islamic finance, economy and profit. Image used for illustrative purpose.

Conceptual photo for Islamic finance, economy and profit. Image used for illustrative purpose.

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Saudi Arabian healthcare provider Dallah Healthcare Co (Dallah Health) has announced that it has obtained a $240 million (SAR 900 million) long-term Murabaha facility, to fund future acquisitions and expansions.

The 10-year financing facility is against a promissory note from the company to benefit Al Rajhi Bank for SAR 886 million, the company said in a statement to the Saudi Stock Exchange, Tadawul.

Dallah Health announced earlier this month that it was investing SAR 70 million in its Riyadh-based Dallah Al Nakheel Hospital, in which it would make improvements including the expansion of its emergency department.

(Writing by Imogen Lillywhite; editing by Daniel Luiz)

imogen.lillywhite@refinitiv.com

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