Sun, Dec 21, 2014
A A A
Welcome bhaimia
RSS

Zain Saudi Arabia gets $2.5 bln Islamic financing

Posted on 12 August 2009

From Bloomberg: Zain Saudi Arabia, a unit of Kuwait’s biggest mobile-phone company, got a two-year $2.5 billion Islamic loan facility, or Murabahah, from eight banks as Saudi companies tap products that comply with Muslim Shariah law to expand operations in the kingdom.

“The funds will be used to repay its existing Murabahah, facilitating the mobile telecom operation’s ongoing network expansion and future growth,” the Riyadh- based company said in an e-mailed statement today…………Full Article: Source

 
Article link

This post was written by:

Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


Contact the author

Comments are closed.

banner
banner
December 2014
M T W T F S S
« May    
1234567
891011121314
15161718192021
22232425262728
293031