WAJA obtains SAR 16M financing from Alinma Bank

WAJA Co. signed a Shariah-compliant facility agreement worth SAR 16 million with Alinma Bank.

In a statement to Tadawul, the company said the funds would go towards financing Shariah-compliant letters of credit, bank guarantees, and Tawarruq.

The financing period is one year and the amount is covered by a promissory note, the statement said, adding there are no related parties to the deal.