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FINANCIAL NEWS
Saudi Elect Co. signs 5b riyal financing for projects
20 Sep 2016
(MENAFN) Saudi Elect Co. signed USD1.3bn murabaha-structured Islamic financing to support its projects.
Additionally, the facility- a cost-plus-profit agreement which is compliant with Islamic financing principals will last for seven years.
Moreover, the deal was supplied by three regional banks; Banque Saudi Fransi, National Commercial Bank and Samba Financial Group.
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