Alok weaves Islamic finance loan

The Middle East subsidiary of Indian textile firm Alok Industries has signed a $150m syndicated murabaha facility.

  • By Michael Turner
  • 02 Oct 2013

Alok International Middle East FZE signed the loan agreement with four banks including mandated lead arrangers Noor Islamic Bank and Warba Bank.

Participants Commercial Bank International and United Arab Bank made up the rest of the banking group.

Noor Islamic was the bookrunner, structuring bank, documentation bank and investment and security ...

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