Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait telco Zain signs $250 mln Murabaha facility  Join our daily free Newsletter

MENAFN - Arab Times - 15/04/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times) Wait city april 2 (kuna): zain group a pioneer of mobile telecommunications in eight markets across the middle east and africa has secured a usd 250 million four-year murabaha facility from a syndicate of financial institutions led by kuwait-based boubyan bank and with the participation of kuwait international bank and qatar islamic bank. the murabaha facility which was signed on favorable terms will be used to meet zain group's operational and expansion financing needs. zain group ceo scott gegenheimer said in a statement this murabaha agreement at these preferential terms underscores the group's success in adopting a policy of prudent borrowing to finance general corporate needs.

'the contract strengthens our relations with the islamic banking community taking advantage of the sector's facilities. it also comes in the context of our fiscal policy in which we seek to diversify sources of funding' he said. on his part deputy chairman and ceo of boubyan bank adel abdul-wahab al-majed said this agreement marks a clear message on the ability of kuwaiti banks and their commitment to supporting corporate entities with strong operational performance and robust strategies while at the same time contributing to the development of the national economy.

'many ground-breaking developments in boubyan bank in recent years have earned us a reputation as a leading player in the islamic finance sector in kuwait earning the confidence of major companies including zain' he said. in recent years zain has invested heavily in upgrading its mobile networks and in rolling out new services across all its operations taking advantage of the boom in the mobile sector specifically in the ever-increasing demand for efficient broadband service.


Arab Times

  MENA News Headlines
 Oct 9 2015 - Qatar- QSE falls 34 points, bullish phase continuesGulf Times
(MENAFN - Gulf Times) Qatar Stock Exchange failed to surpass the 11,800 mark as its key index lost 34 points, after being in a bullish phase for the last three consecutive sessions.Consumer goods, ...

 Oct 9 2015 - Saudi said to order spend curbs amid oil price slumpGulf Times
(MENAFN - Gulf Times) Saudi Arabia is ordering a series of cost-cutting measures as the slide in oil prices weighs on the kingdom's budget, according to two people with knowledge of the matter.The ...

 Oct 9 2015 - KSA- SABB Q3 profit rises 7.7% to $304mnGulf Times
(MENAFN - Gulf Times) Saudi British Bank (SABB), the kingdom's fifth-largest bank by assets, posted a 7.7% rise in third-quarter net profit yesterday, in line with analyst forecasts. The bank, an ...

 Oct 9 2015 - Qatar wealth fund said interested in Glencore agriculture unit saleGulf Times
(MENAFN - Gulf Times) The sovereign wealth fund of Qatar has joined investors expressing an interest in buying a minority stake in Glencore's agriculture business, according to three people familiar ...

 Oct 9 2015 - Almost 300 Europe-bound migrants arrested in LibyaGulf Times
(MENAFN - Gulf Times) Libyan authorities said almost 300 migrants, a third of them from Senegal, were arrested Thursday as they prepared to board boats for the Mediterranean crossing to Europe."After ...

 Oct 9 2015 - Netanyahu moves to lower tensions over holy siteGulf Times
(MENAFN - Gulf Times) Prime Minister Benjamin Netanyahu has banned Israeli cabinet ministers and legislators from visiting a sensitive Jerusalem holy site where rising tensions have spilled over into ...

 Oct 9 2015 - France carries out fresh strikes against IS in SyriaGulf Times
(MENAFN - Gulf Times) France said on Friday it had carried out a second wave of strikes overnight on Islamic State targets in Syria and accused Russia of failing to target the group."Two Rafale jets ...

 Oct 9 2015 - UN envoy proposes Libya unity governmentGulf Times
(MENAFN - Gulf Times) UN envoy Bernardino Leon proposed a Libyan unity government on Friday aimed at ending years of conflict, but the plan was quickly dismissed by members of the country's two rival ...

 Oct 9 2015 - Tunisian dialogue mediators win Nobel Peace PrizeGulf Times
(MENAFN - Gulf Times) Tunisia's National Dialogue Quartet won the Nobel Peace Prize on Friday for building democracy in the country after the 2011 revolution which unleashed the Arab Spring.The award ...

 Oct 9 2015 - Four Arabs stabbed in southern Israel, Jewish suspect heldGulf Times
(MENAFN - Gulf Times) Four Arabs were stabbed in a town in southern Israel on Friday and a Jewish suspect was arrested, police said. The attacks follow a surge in knife violence by Palestinians ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help