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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