Riyadh – Mubasher: Watani Iron Steel Company has obtained a short-term credit facility worth SAR 25 million from Alinma Bank.

The company has secured the Sharia-compliant loan on 27 September 2021 to finance its working capital, according to a bourse disclosure on Monday.

The funding duration will be for one year until 31 August 2022.

Watani Iron Steel said the facility agreement is secured by a promissory note with the value of the loan in favour of the bank.