STP renews SAR 10M Murabaha facilities with SAUDI EXIM Bank

Saudi Top for Trading Co. (Saudi Top) renewed the short-term Murabaha facilities to finance working capital worth SAR 10 million from the Saudi Export-Import Bank (EXIM Bank). The financing has a term of 12 months and expires on Nov. 14, 2024, the company said in a statement to Tadawul. The credit is covered by a promissory note.

The facilities are intended to finance the procurement of inputs for export activities. There are no related parties to the deal, the statement said.