Saudi Electricity Co (SEC) has signed a 5bn riyal ($1.33bn) murabaha-structured Islamic financing to help support its projects, the firm said in a bourse filing on Monday, according to Reuters. 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.