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
 May 26 2016 - Welcome to Happiness Island Resort, Abu DhabiMENAFN Press
(MENAFN Press) The new beach destination, Happiness Island Resort, situated two minutes from Saadiyat jetty via speed boats, hosted an exclusive media sneak-peek last weekend. The ultimate ...

 May 26 2016 - UAE- What's the future of TV? Apps!Khaleej Times
(MENAFN - Khaleej Times) Apple CEO Tim Cook said on Tuesday that apps are the future of television and that the company wants to help change the entertainment industry. Cook was speaking at a ...

 May 26 2016 - Met Department warns of strong winds in QatarThe Peninsula
(MENAFN - The Peninsula) Doha: The weather forecast for Qatar valid until 6pm Thursday inshore will be hot daytime with blowing dust to dusty at times and some clouds, offshore will be slight ...

 May 26 2016 - UAE- HP Enterprise plans $8.5b spinoffKhaleej Times
(MENAFN - Khaleej Times) Hewlett Packard Enterprise is continuing to slim down by selling its business services division to competitor Computer Sciences Corp. Both companies said the deal is worth ...

 May 26 2016 - UAE- Aligning strategic priorities is vitalKhaleej Times
(MENAFN - Khaleej Times) "What got you here, doesn't take you there" is quite a common adage you get to hear in boardrooms, and that is quite appropriate when the times are changing and contexts ...

 May 26 2016 - UAE- WATCH: Tesla autopilot drives 'asleep' driver in trafficKhaleej Times
(MENAFN - Khaleej Times) Did this man fall asleep behind the wheel of a Tesla car, the internet has been asking after a video of a man, seemingly asleep, went viral online. Uploaded on May 23, by ...

 May 26 2016 - Aspect Outperforms The Competition To Clinch Middle East Deal With Trading Firm FerrocadiaMENAFN Press
(MENAFN Press) International multi-commodity trading firm Ferrocadia has become the latest Middle East customer to choose the AspectCTRM cloud-based trade and risk management solution. In a deal ...

 May 26 2016 - Afghan Taliban picks Mullah Akhundzada as new leaderThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Afghan Taliban on Wednesday confirmed the death of its chief Mullah Mansoor and announced Mullah Haibatullah Akhunzada as the group’s new leader. ...

 May 26 2016 - S. Lebanon's Shebaa Farms: Still awaiting liberationThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Lebanese people on Wednesday marked the passage of 16 years since the Israel army withdrew from Southern Lebanon -- after facing stiff resistance from ...

 May 26 2016 - Yemen's warring parties closer to agreement: UN envoyThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) UN Envoy to Yemen Ismail Ould Cheikh Ahmed said that Yemen’s warring parties are closer to reaching an agreement. “We are now working on ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

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

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

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