Home Industry Kuwaiti Telecom Operator Zain Signs $250m Islamic Loan Zain will use the money to meet its “operational and expansion financing needs”, it said in a statement. by Reuters April 2, 2014 Kuwait’s Zain has secured a $250 million four-year Islamic loan from a syndicate of three Gulf banks, the telecommunications operator said on Wednesday. Zain, which operates in eight countries in the Middle East and Africa, has signed the Murabaha sharia-compliant cost-plus-profit facility with lead lender Boubyan Bank , plus Kuwait International Bank and Qatar Islamic Bank. Zain will use the money to meet its “operational and expansion financing needs”, it said in a statement. 0 Comments
