Umniah and ABC Bank sign JOD 10 million loan agreement

Under this agreement the ABC Bank will offer Umniah the sum of JOD 10 million long-term loan repayment facilities.

The signing ceremony was attended by Batelco Chief Executive, Mr. Peter Kaliaropoulos and ABC Bank CEO Mr. Noureldin Nahawi.

"This loan agreement is important for Umniah, we are glad to cooperate with ABC Bank to invest in our company and our services. We also aim to develop our infrastructure to bring diverse offerings and services to Umniah's subscribers." said Mr. Peter Kaliaropoulos, CEO of Batelco Bahrain.

The JOD 10 million loan will be invested in financing and developing Umniah's infrastructure and expanding the company's mobile unique services and on-demand offerings, which comes as part of Umniah's commitment to upgrade its systems and services offered to its subscribers throughout establishing business bonds with various local and regional companies in what benefits the local community.

"As a bank we always aim to enhance investments and to contribute to the development of Jordanian companies to nourish and forge our local economy." said Mr. Noureldin Nahawi, CEO of ABC Bank. Mr. Nahawi also added that the ABC Bank strives to provide comprehensive banking solutions to our customers and establish fruitful relationships with prominent companies locally and internationally.

Umniah is a subsidiary company of Batelco Bahrain Group and is today's most advanced mobile provider in Jordan and a leader in the application and use of cutting-edge technologies in GSM, GPRS and EDGE. Umniah as well has gone full thrust in designing and developing innovative on-demand value-added services and solutions, through its network, which is fully-ready for migration to 3G systems.