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Alujain secures SAR 1bn Murabaha facility from Alinma Bank

Alujain secures SAR 1bn Murabaha facility from Alinma Bank
The Murabaha loan has an eight-year duration
ALUJAIN
2170
-0.70% 56.30 -0.40
ALINMA
1150
-0.71% 22.50 -0.16

Riyadh – Mubasher: Alujain Holding Corporation has signed an Islamic Murabaha facility agreement with Alinma Bank to obtain funding worth SAR 1 billion.

The Murabaha loan has an eight-year duration from 16 August 2021, according to a bourse filing on Tuesday.

The listed company aims to buy additional shares in National Petrochemical Industrial Company (NATPET) through this Murabaha facility.