Riyadh – Mubasher: Waja Company renewed a credit facilities agreement compatible with the provisions of Islamic Sharia with Riyad Bank at a value of SAR 25.05 million.

The firm will use the loan to issue bank letters of guarantee for projects, according to a bourse disclosure.

The facility deal is secured by a promissory note from the company and is valid for one year.

Last October, the multi-sector Saudi Joint-stock firm obtained a SAR 9 million loan from Al Rajhi Bank. 

During the first nine months (9M) of 2023, Riyad Bank posted an annual increase of 22.03% in net profit to SAR 6.09 billion, compared to SAR 4.99 billion.