DUBAI, Sept 19 Saudi Electricity Co.
(SEC) has signed a 5 billion riyal ($1.33 billion)
murabaha-structured Islamic financing to help support its
projects, the firm said in a bourse filing on Monday.
The facility - a cost-plus-profit agreement which is
compliant with Islamic financing principles - lasts for seven
years and was supplied by three local banks: Banque Saudi
Fransi, National Commercial Bank and Samba Financial Group.
($1 = 3.7511 riyals)
(Reporting by Noah Browning; Writing by David French; Editing
by Shri Navaratnam)