Zahrat Al-Waha inks SAR 60M credit facilities deal with QNB

24/09/2024 Argaam
Logo ofZahrat Al-Waha Trading Co.

Logo of Zahrat Al-Waha Trading Co.

Zahrat Al-Waha Trading Co. signed today, Sept. 24, a financing and banking services agreement with Qatar National Bank (QNB), as per the terms, conditions, and principles of Islamic Sharia, at a value of SAR 60 million.

 

In a statement to Tadawul, the company indicated that the facilities term extends from Sept. 24, 2024 to June 26, 2025. It noted that the facilities are guaranteed by order notes with the value of the facilities.

 

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The financing will go for opening LCs for the purchase of raw materials, said the company, adding that there are no related parties.

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