Ooredoo Signs $498 Million Islamic Loans With Three Banks
Qatar’s first telecom operator Ooredoo said it has signed three commodity murabaha or Islamic loan facilities worth US$ 498 Million with local banks.
A Qatar Exchange notification Wednesday said, Ooredoo signed the loan facilities of US$166 Million each with Qatar Islamic Bank, Masraf Al-Rayyan and Barwa Bank.
The tenor of the loans is one year and will be used for general corporate purposes.
Source : Qatar News Agency