Saudi Energy announces obtaining a SAR 15.8 billion Murabaha financing facility agreement

Saudi Energy signed a SAR 15.8 billion Shari’ah-compliant Murabaha financing facility with a consortium of seven local banks.
The unsecured facility has a duration of 7 years and was obtained for general corporate purposes.
Participating lenders include Saudi National Bank, Al Rajhi Banking and Investment Corporation, Saudi Awwal Bank, Banque Saudi Fransi, Arab National Bank, Riyad Bank, and The Saudi Investment Bank.
Related parties to the agreement include the Saudi National Bank and Board Member Khalid Salem AlRowais, who also serves on the board of The Saudi Investment Bank.