Jordan’s National Electric Power Company (NEPCO) has signed two Murabahah loan agreements worth JOD 334 million with the Jordan Islamic Bank, reported local daily by Jordan Times.

Amjad Rawashdeh, the CEO of NEPCO, said that the loans were given with concessional conditions and a competitive interest rate, adding that the first loan was worth JOD 228 million, while the second was worth $150 million.

The two agreements affirmed the bank’s continuous role in managing the financial operations of the biggest national institutions from various sectors, in accordance with Islamic financing and investment methods, added Mousa Shehadeh, the CEO of Jordan Islamic Bank.

Source Islamic Business&Finance