Saudi's Zahrat Al Waha extends $16mln loan from Alinma Bank

Zahrat Al Waha aims to finance its working capital

  
Islamic finance background with calculator and rosary on the table. Image used for illustrative purpose.

Islamic finance background with calculator and rosary on the table. Image used for illustrative purpose.

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Riyadh – Zahrat Al Waha for Trading Company has renewed a credit facility agreement worth SAR 60 million with Alinma Bank.

The funding is in line with the Shariah regulations, holding a duration from 14 July 2021 to 30 June 2022, according to a bourse filing on Wednesday.

Zahrat Al Waha aims to finance its working capital through the loan renewal.

Last month, the company announced a full repayment of a long-term loan worth SAR 11.02 million it had secured from Alinma Bank.

Source: Mubasher

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