On May 6, 2026, Middle East Specialized Cables Company (MESC) announced obtaining Sharia-compliant banking facilities worth AED 110,000,000 from Emirates Islamic Bank in the United Arab Emirates. The financing agreement, originally dated January 21, 2027, became effective on May 6, 2026, with a duration until January 21, 2027. The facility is secured by a promissory note of AED 110,000,000, pledge over bank accounts, and assignment of receivables, and will be used for financing working capital and issuance of letters of credit.

Original announcement:

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