Saudi Arabia’s Nama Chemicals Inks Two Shariah-Compliant Facilities Worth SAR 90 Million 

Saudi Arabia's Nama Chemicals (Nama) has announced the signing of two Islamic Shariah-compliant finance arrangements totaling SAR 90 million (USD 24 million), as per a regulatory statement on the Saudi Stock Exchange Tadawul on 19th of December 2022.

Why it Matters?

The facilities include a SAR 30 million (USD 8 million) Tawarruq facility arrangement with Riyad Bank as well as a Murabaha facility agreement for SAR 60 million (USD 16 million) with the National Bank of Kuwait and will be used as working capital.

Details

The facilities have a six-month term with revolving facility for the duration of one year.Each facility is guaranteed by a promissory note for the amount of the facility granted.Founded in 1992, Nam...