Bank Asya hires banks for $200m Islamic loan

Turkey’s Bank Asya is looking to raise $200m through a one year Islamic loan. The participation bank — as Turkey’s four Islamic banks are called — has asked ABC Islamic Bank, Emirates NBD Capital, National Bank of Abu Dhabi, Noor Islamic Bank and Standard Chartered to arrange the syndicated murabaha facility, which may be denominated in different currencies.

  • 01 Mar 2012
Shariah compliant banking is gaining a stronger foothold in Turkey with the changing governmental attitude on Islamic finance. For years there has been talk of Turkey issuing a sovereign sukuk, but this looks increasingly likely to happen in 2012. One Malaysian senior banker told EuroWeek sister publication IFIS ...

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