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Saudi Mobily secures $2.7bln Islamic loan

Posted on 13 February 2012

Saudi Arabian telecom firm Etihad Etisalat says it has secured a 10 billion riyal ($2.7 billion) Shariah-compliant loan from seven banks that allows its to consolidate several other loans into one.
The company, commonly known as Mobily, said in a statement on the Saudi Arabian stock exchange’s website Sunday that the Islamic law-compliant loan was 3.5 times covered by the banks involved, and with more favorable terms than before. Mobily is Saudi Arabia’s second largest telecom by market capitalization………………………………………..Full Article: Source

 
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