Middle Eastern banks tap international loan market for first time
Middle Eastern banks are diversifying their funding portfolios by entering the international syndicated loan market for the first time, with Bahrain Islamic Bank (BisB) signing a deal at the end of September and two more due to sign this month.
On September 20, BisB signed its debut syndicated loan for $101m, double the amount it was launched at. The murabaha facility has a tenor of one year and will be used for general funding purposes.
Ras Al Khaimah’s Rakbank is expected to sign a conventional $350m facility
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