Record Islamic finance deal agreed in Turkey
Al Baraka Turk Participation Bank, the Turkish subsidiary of Bahrain-based Al Baraka Banking Group, has concluded a record Islamic finance deal in Turkey worth $450 million with the participation of a group of major international banks.
Thirty-two banks from 16 countries covering the main financial centres in the world took part in the facility, including Standard Chartered Bank, Noor Islamic Bank, ABC Islamic Bank and Emirates NBD.
Bank Islam Brunei Berhad Darussalam and Al Hilal Bank were nominated as mandated lead arrangers.
"The success of the murabaha syndication deal of the bank this year, provides further evidence of the bank's distinctive reputation and position in the Turkish market, based on the strong financial position and the growing financial performance over the previous years, and it is also a global certificate of the distinctive reputation and prestige, which ABG enjoys regionally and globally," said Al Baraka Banking Group chairman and chief executive Adnan Ahmed Yousif.
- Getting their priorities straight: Emirati households spending more on phones, cars than education
- Why Qatar stocks hit six year high this week
- Are Arab Bankers right to blame the region's deteriorating economies on the Arab Spring?
- Spotlight on Saudi Arabia’s "resilient" banking sector
- Lebanese startup's move to global platform paving way for entrepreneurship growth
- Noor Islamic Bank Jointly Closes USD 240 Million Murabaha Syndication for Turkey’s Albaraka
- Al Baraka planning IPO for Syrian unit in October
- Albaraka Banking Group ready to launch one of the largest IPOs in the region
- ABC Islamic Bank in US$100 million general syndication for Kuwait’s “Munshaat”
- GIB, Boubyan Bank and BNP Paribas arrange US$100 million five-year Murabaha for Shamil Bank