Zain KSA Secures SAR 1.9 Billion Murabaha Financing from AlRajhi Bank

Mobile Telecommunication Company Saudi Arabia (Zain KSA) announced the signing of a SAR 1.9 billion Islamic Sharia-compliant banking facility agreement with AlRajhi Bank to refinance its existing Murabaha facility with the Ministry of Finance, which had annual installments and a final payment scheduled for June 1, 2027.

According to the company, the new facility offers improved commercial terms and will be repaid in a single payment after five years, on February 17, 2030.

In a statement on “Tadawul,” Zain KSA clarified that the financing term is five years, subject to the main terms and conditions of the banking facility agreement and a promissory note.

The agreement aims to optimize the company’s financial structure by replacing the existing Murabaha facility with more favorable terms, contributing to its strategic objectives and enhancing cash flows.