Bank Asya signs Turkey’s largest murabaha deal

05 Apr 2011

Bank Asya, a Turkish participation bank, signed a $300m one year loan on Monday, the largest ever murabaha facility for a Turkish financial institution.

Asya is one of Turkey’s four Islamic banks and it launched the deal with a target of $150m. The borrower offered a margin of 150bp for the Shariah compliant dual currency facility, which raised $171m and Eu94.5m. Proceeds will be used for its trade finance activities and refinancing.

ABC ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial