Wafrah renews SAR 50M credit facilities with Riyad Bank

Logo of Wafrah for Industry and Development Co.

Wafrah for Industry and Development Co. renewed Shariah-compliant credit facilities worth SAR 50 million with Riyad Bank until May 7, 2026.

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The financing was raised today, July 30, and renewed annually during the agreement duration, the company said, adding that the facilities were secured by a promissory note.

The financing is aimed at the issuance of all types of credits, direct payment of invoices, and financing working capital.

There are no related parties to the deal, Wafrah said.

In June 2024, the company raised credit facilities worth SAR 50 million from Riyad Bank, according to Argaam data.