WAJA renews SAR 20M credit facilities with SNB

08:38 AM (Mecca time) Argaam
Logo ofWAJA Co.

Logo of WAJA Co.

WAJA Co. renewed on May 5 a Shariah-compliant credit facility worth SAR 20 million with Saudi National Bank (SNB), the company said in a filing to Tadawul today, May 6.

 

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The one-year credit facility is guaranteed by a promissory note, the statement added.

 

The credit is intended to be used in financing bank letters of credit and documentary credits, and paying raw material purchase invoices, WAJA noted, noting that no related parties are part of the deal.

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