“Saudi Electricity” signs a Murabaha financing agreement with 7 banks for 16 billion riyals

The Saudi Electricity Company signed "Saudi Electricity"A Murabaha financing facility agreement compatible with Islamic Sharia with 7 banks.

The company said in a statement on its website "Saudi Arabia trading"The agreement is worth 16 billion riyals, while the financing period is 3 years with an option to extend according to the terms of the agreement.

She added that the banks are: the National Bank of Saudi Arabia, Al Rajhi Bank, First Saudi Bank, Banque Saudi Fransi, Arab National Bank, Riyad Bank, and Qatar International Islamic Bank.

She explained that the goal of the agreement is to refinance existing debt within the current Murabaha facilities.

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