Khaleeji Commercial Bank (KHCB) has arranged a financing deal with Meydan Group worth $40 million for the group’s general working capital requirements and funding of various on-going projects, including the Meydan City in Dubai.

Fuad Taqi, deputy general manager, commercial banking, KHCB, said: “We are very pleased to be working with the Meydan Group. This deal is aligned with the Bank’s strategy on a number of levels; supporting the growth and development of the GCC whilst allowing KHCB to extend its reach regionally, lending our financial expertise to a larger market.”

“Building strong business relationships is paramount to success, and we look forward to further strengthening the relationship with Meydan Group,” he said.

SaeedH Al Tayer, chairman of Meydan Group, said: “We are committed to this project that will position Meydan as a centre for world class leisure, recreation and lifestyle. This will be a great benefit for us, Dubai and the GCC and is aligned with both the group and KHCB’s goals to encourage growth and prosperity in the region.”

The signing ceremony was held at the Meydan Hotel in Dubai and was attended by Al Tayer; Taqi; Mohamed Alsayed, relationship manager, corporate & wholesale banking, KHCB; Meghnad Warrier, financial control, Meydan; Mahboob Murshed, managing director, Alpen Capital; and Rohit Walia, executive vice chairman and CEO of Alpen Capital. – TradeArabia News Service