Edarat receives Islamic facility from SAB at SAR 18M

Edarat Communication and Information Technology Co. inked on Dec. 24, a Shariah-compliant credit facility agreement with Saudi Awwal Bank (SAB) at SAR 18 million, according to a statement to Tadawul.

The agreement included a medium-term, three-year facility at SAR 8 million to finance the capital expenses (Capex), a five-year facility at SAR 4.5 million to issue contract-related guarantees and a short-term facility related to vendor receivables.