From AP: Saudi Arabia’s leading mobile telecom operator Etihad Etisalat Co. says it has struck a 1.2 billion Saudi riyal ($320 million) financing deal with five local banks. The company, also known as Mobily, said in a statement Tuesday that the Islamic financing deal is aimed at funding its expansion plans.
The company said the 12-month loan can be extended for another six months, under the terms of the agreement……………………………………….Full Article: Source