Zain signs agreement with Saudi Ministry of Finance to convert existing commercial loan into Murabaha facility

Mobile Telecommunication Company Saudi Arabia “ZAIN KSA” Announced on Tuesday the signing with the Ministry of Finance of an agreement to convert the existing commercial loan into a Murabaha facility and the appointment of Al Rajhi Banking & Investment Corp. (Al Rajhi bank) as the Murabaha Facility Agent.

It is noteworthy that ZAIN KSA signed an agreement with the Saudi Ministry of Finance in 2013 regarding postponing the payment of state dues owed by the company for the next seven years.