Qatar's Ooredoo signs Islamic loans worth $498 mln -statement
DUBAI May 13 (Reuters) - Qatar's Ooredoo has signed three Islamic loan facilities with local banks totalling $498 million, the telecommunications operator said on Tuesday.
Ooredoo, which has operations in Africa, Asia and the Middle East, has agreed one-year murabahas - a sharia-compliant cost-plus-profit arrangement - of $166 million each with Qatar Islamic Bank, Masraf Al-Rayyan and Barwa Bank.
These will be used for general corporate purposes, Ooredoo said in a statement. (Reporting by Matt Smith; Editing by Greg Mahlich)
- First Ebola case diagnosed in the United States: CDC |
- Advanced iOS virus targeting Hong Kong protestors -security firm
- Hong Kong democracy protesters and officials mark uneasy National Day |
- U.S. orders airlines to replace cockpit displays on 1,300 Boeing airplanes
- Japan volcano death toll likely to rise to around 46 as more victims found