Middle East Loans
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The Central Bank of Bahrain has begun a consultation with the kingdom’s Islamic banks on new rules designed for what it terms “special murabaha” financing contracts by the banks.
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Abu Dhabi investment firm Waha Capital has overcome some lenders' concerns about financing a holding company to smash through its refinancing target by signing a $750m five year loan. -
Kuwaiti telecoms firm Zain has signed a four year $250m murabaha financing facility with two local banks and one other bank in the Gulf. Zain will use the funds to support its operations and fund its expansion plans.
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Turkish agricultural trader Tiryaki has signed a $250m borrowing base facility from development and commercial banks.
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In support of its bid to become the centre of Islamic economy, Dubai has launched a murabaha platform.
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Abu Dhabi investment firm Waha Capital has overcome some lenders' concerns about financing a holding company to smash through its refinancing target by signing a $750m five year loan.
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Islamic loan bankers are backing their market to bounce back after a start to the year when volumes have been sluggish already compared to last year and refinancing needs are much lower than they were in 2013.
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Ziraat Bankasi, the Turkish state-owned agricultural bank, is due to sign a one year loan to refinance $700m-equivalent of debt early next week.
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The Islamic Development Bank has approved $515.6m of financing in support of socio-economic development projects in member countries, as well as Muslim communities in non-member countries.
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Qatari real estate company Ezdan Holding signed the first tranche of a $500m Islamic financing on Monday with banks.
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Turkish financial institution Akbank has signed a $1.3bn equivalent syndicated deal to become the first of Turkey's top tier banks to refinance its springtime bank debt.
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The Hashemite Kingdom of Jordan has signed a €180m financing facility from the European Union, as it tries to ease the economic strains of the region's political crisis.
