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Zain postpones repayment, points to delayed Zain Saudi subscription

Kuwait-based Zain Group has said the postponed repayment of its $2.6bn loan to banks is primarily due to the delayed subscription of Zain Saudi, Kuna has reported. Zain's chief commercial officer, Hisham Akbar, who is also a Zain KSA board member, has said the company is fully committed to the repayment of the due loan, noting that the delay in subscription forced the group to ask for a two-month grace from banks.