Finnish Minister of Economic Affairs Jan Vapaavuori, was greeted by Khalid Al-Kaf, Moibly’s MD & CEO, during his visit to Mobily.

The two sides reviewed the existing cooperation between Finnish companies and Mobily, which in turn reflected on the development of the strategic vision of each party and the diversify sources of investment.

Al-Kaf presented an overview of Mobily’s achievements and its role in promoting economic growth of the Kingdom, as well as its distinctive efforts in the development of the telecommunications sector and information technology.

Mobily has special relations with top Finnish companies, especially Nokia solutions and networks, which have contributed to the development of the company’s infrastructure in the past six years, and enhanced the quality of services provided to customers, whether to the public or private sectors. This relationship culminated in the signing of an agreement to develop Mobily’s network in Riyadh and the northern region of the Kingdom with (Single RAN) valued at SR500 million on the sidelines of the Finnish minister's visit.

Mobily has signed in the middle of this year, two long-term memorandums of understanding for Islamic finance at $650 million, where Mobily, Nokia Siemens Networks and Ericsson will work along with Finnish and Swedish export credit agencies to complete the financing process. This will be reflected positively on the company’s cash flow, and will contribute to the expansion of the infrastructure and the development of services and technologies of each of the third generation and fourth generation.