Wafrah secures SAR 50M facilities from SNB

04/08/2024 Argaam

Wafrah secures SAR 50M facilities from SNB

Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. obtained Shariah-compliant credit facilities at a total value of SAR 50 million from Saudi National Bank (SNB), according to a statement to Tadawul. 

 

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The one-year facilities are secured by a promissory note.

 

The Islamic financing agreement is for issuing all types of credits, direct payment of invoices, and financing working capital, Wafrah added, noting there are no related parties.

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