• Saudi-based telecom service provider Etihad Etisalat (Mobily) has successfully secured $1.3 billion (SAR 4.8 billion) through a seven-year Murabaha financing deal with Saudi National Bank (SNB). Under the agreement, Mobily, an affiliate of UAE-based e&, will allocate $982.4 million (SAR 3.7 billion) to restructure part of its outstanding debt and utilize the remaining funds as working capital. The Murabaha deal adheres to Sharia principles, functioning as a cost-plus financing arrangement, with specific terms undisclosed.

• The seven-year financing deal is exclusive to financing, excluding involvement with mortgages or financial guarantees, according to the disclosure statement. In October, Mobily reported a robust financial performance, ranking 40th on Forbes Middle East's Top 100 Listed Companies 2023 list. The company experienced a 41.4% YoY surge in net profit, reaching approximately $400 million (SAR 1.5 billion) for the first nine months of 2023, driven by higher revenues. Revenues grew 7.5% to $3.3 billion (SAR 12.4 billion), and EBITDA increased by 7.8% YoY to $1.3 billion (SAR 4.7 billion).