Riyadh - Mubasher: Waja Company recently secured three separate financing agreements, all compliant with Islamic Sharia principles, to support the issuance of bank letters of guarantee for its projects.
Bank Albilad provided a one-year facility worth SAR 15 million on 18 December 2023, according to a bourse disclosure.
Waja also renewed its existing credit facilities agreement with Arab National Bank (ANB) for one year on 27 December 2023, securing SAR 3.50 worth of funding.
On 31 December 2023, Waja signed a one-year Sharia-compliant agreement with the Saudi National Bank (SNB) at a total value of SAR 12 million.
The listed company earlier extended a credit facilities agreement amounting to SAR 25.05 million with Riyad Bank.
It is worth noting that Waja was awarded a project valued at SAR 97.91 million from the Education and Training Evaluation Commission on 5 December 2023.
