| Saudi Arabian Mining Co. (Ma’aden), which has an aluminum joint venture with Alcoa, raised SR9 billion ($2.4 billion) through an Islamic loan facility to help fund its future projects, it said in a statement Tuesday.
The murabaha-structured revolving credit facility has a life of five years and was increased from the SR7 billion initial target amount which the bank announced in June, Ma’aden said. A murabaha is a Shariah-compliant cost-plus-profit arrangement...............................................Full Article: Source
|