WAJA Co. Obtains U$ 4.26M Shariah-Based Facility for Letters of Credit
02 January 2025•
By Staff Writer
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Ammar Salem Al-Nahdi, WAJA Company CEO
WAJA Co. has secured a Shariah-compliant financing facility worth SAR 16 million (~USD 4.26 million) from Alinma Bank. According to a statement to Tadawul, the funds will be used to support Shariah-compliant letters of credit, bank guarantees, and Tawarruq arrangements.
The financing agreement spans one year and is secured by a promissory note. The company clarified that no related parties are involved in the deal.
Source: Eye of Riyadh
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