Middle East Loans
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Etisalat, the Abu Dhabi telecoms firm, has signed €3.15bn-equivalent of loans from banks to finance its purchase of Vivendi's 53% stake in Maroc Telecom, reports GlobalCapital.
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Turkey's Garanti Bankasi has signed a $1.5bn-equivalent one year syndicated loan. -
Etisalat, the Abu Dhabi telecoms firm, has signed €3.15bn-equivalent of loans from banks to finance its purchase of Vivendi's 53% stake in Maroc Telecom.
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Arab Petroleum Investments Corporation (Apicorp) has signed a five year murabaha facility with Saudi Arabia’s Al Rajhi Bank for SR1bn ($267m).
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Eastern Sugar Co (Nuran Sugar) has signed its long awaited Shariah-compliant financing worth E£1.5bn ($217m) with 13 banks in total according to a senior banker on the deal.
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Abu Dhabi National Energy Co, known as Taqa, has signed a $195m-equivalent loan in yen, as it makes its first steps to repay bonds maturing this year.
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The Islamic Corporation for the Development of the Private Sector has put its backing behind an ijara leasing company aimed at helping small and medium sized enterprises (SMEs) in Palestine.
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Gas transport co Maran Nakilat has signed a five year murabaha refinancing deal for $807.4m with Qatar Islamic Bank and Barwa to buy three liquid natural gas vessels.
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Saudi Arabian cement company Najaran has signed a Sr150m ($40m) Islamic financing facility with Banque Saudi Fransi to finance its waste heat recovery project.
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Khaleeji Commercial Bank will provide financing for buyers of property on Bahraini man-made island Dilmunia, after signing an agreement with Ithmaar Development.
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IMG Theme Park has signed a Dh1.2bn ($326m) ijara financing facility with Abu Dhabi Islamic Bank (ADIB) and four other banks based in the United Arab Emirates.
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The Islamic finance industry continues to grow quickly, in terms of both assets and users. Yet within this fast-growing sector a number of banks tend to stand out for the quality of their services. ASIAMONEY picks the stand-out Islamic banks in Asia and the Middle East for the past year. By Chris Wright.
