Mobily won another award for the best trade finance deal by “Global Trade Review World” during a celebration held recently at the Jumeirah hotel in London, in the presence of a group of major financial institutions from around the world. Syed Mustafa Ahmed, General Manager Treasury, received the award on behalf of Mobily.
Mobily won this prestigious award for the $650 million financing deals, signed by the company with Swedish and Finnish Export Credit Agencies (ECA’s) with a competitive profit margin.
This deal is considered the first Islamic financing deal concluded with Swedish and Finnish export credit and it is the first and the largest of its kind in the Middle East. Moreover, it is a long-term deal extending over ten years period and the repayment will begin after a year and a half. This financing will be allocated to the company’s expansion in the 3G and 4G of infrastructure.
Mobily’s negotiations to conclude this transaction was completed in record time, reflecting the professionalism and speed of communication between the parties. Mobily has already won two awards for the best Murabaha and Trade finance deal for the year 2013 by the “Islamic Finance News magazine” IFN for the same financing deal, which reflects the company’s strategic vision.