IslamicFinance.de

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.