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FINANCIAL NEWS
Zain-KSA receives USD600m loan from China
17 Aug 2016
(MENAFN) China is increasing lending in Saudi Arabia, boosting its foothold in the biggest Arab economy as growth slows in its home market.
Moreover, Mobile Telecom Co. Saudi Arabia, a unit of Kuwaiti Zain, received an USD600mn loan from Industrial and Commercial Bank of China Ltd. (ICBC).
Meanwhile, China is boosting lending in the world biggest oil exporting nation as the kingdom tries to bridge the widest budget deficit in more than 20 years.
In addition, ICBC also lent Saudi Elect Co. USD1.5bn in June to fund projects and provided USD950mn to the Saudi government.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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