Manama: stc Bahrain announced the signing of a USD186 million 5-year bullet payment loan, provided by Abu Dhabi Islamic Bank and MUFG Bank. This deal comes as part of stc Bahrain’s ongoing investment in developing and enhancing its existing ICT infrastructure in Bahrain to pave the way for future digital services. The signing ceremony took place at the Ritz Carlton Hotel on the 31st of October 2021.
The deal will provide the necessary liquidity to further invest in stc Bahrain’s ICT infrastructure and improve the company’s overall digital capabilities. It will do this by introducing new innovative solutions that will add value to customers by delivering differentiated products and solutions and providing the best digital offerings in Bahrain.
“We are delighted to sign this deal with ADIB and MUFG Bank. This will support stc Bahrain’s growth strategy by furthering our investment in our ICT infrastructure. We are proud of our efforts to finalize this milestone deal with ADIB and MUFG,” Eng. Nezar Banabeela, CEO of stc Bahrain, said.
“This agreement represents a significant step toward Bahrain’s digital future. We will further enhance our ICT infrastructure and accelerate digital transformation to create more smart and sustainable solutions, supporting the Kingdom’s economic vision.”
The new finance deal demonstrates stc Bahrain’s commitment and efforts toward transformational technologies, leading the way in digitizing service experiences and making them more relevant to today’s evolving customer needs.
