IslamicFinance.de

Thuraya Telecommunications Company has secured a term financing facility through Dubai Islamic Bank (DIB). Thuraya will use the proceeds to upgrade its network infrastructure and to support further development and expansion of its product portfolio, including the highly successful Thuraya SatSleeve satellite adaptor for smartphones. According to Samer Halawi, Chief Executive Officer of Thuraya, this long-term relationship with DIB will help his company to strengthen its position as a leading MSS operator and provide it with additional financial flexibility to develop its next generation gateway and upgrade its network capacity. It also provides Thuraya with the breadth that supports its sustainable growth strategy as well as new business opportunities in key and emerging markets.

Thuraya Telecommunications has secured a long-term financing facility through Dubai Islamic Bank (DIB). Thuraya said it will use the proceeds to upgrade its network infrastructure and to support further development and expansion of its product portfolio, including a SatSleeve satellite adaptor for smartphones. Adnan Chilwan, deputy chief executive officer of DIB said in a written statement that the deal makes DIB the preferred partner for fuelling the growth of progressive companies like Thuraya.