Middle East Loans

Turkish Islamic bank Al Baraka Turk has signed an oversubscribed $430m murabaha financing after launching the deal into syndication at $250m.

The Muharraq Mall Company has signed a BD8m ($21m) Islamic financing from Ahli United Bank.

Three Egyptian banks are set to sign an Islamic financing facility for the Eastern Sugar Company worth E£1.5bn ($217m).

Saudi Arabia's National Company for Petrochemical Industries (Natpet) has signed a Sr1bn ($267m) Islamic finance facility.

Airport retailer Dubai Duty Free has mandated three banks to arrange unsecured conventional and Islamic facilities totalling $750m.

The Islamic Development Bank (IsDB) has signed a set of loan agreements worth $747m to fund development projects in several member countries and to Muslim communities in non-member countries.

Turkish Islamic bank Al Baraka Turk is due to sign its $250m murabaha facility within the first two weeks of September. Syndication for the deal closes on August 29.

Three Egyptian banks are set to complete Egypt’s largest Shariah-compliant financing facility to the Egyptian Steel Company for E£1.7bn ($243m).

Saudi cement company the Northern Region Cement Company (NRCC) has signed a renewal of its existing murabaha facility with Arab National Bank. The deal is worth Sr200m ($53.3m).

Property developer Saudi Hotels and Resort Areas Co. (Sharaco) has signed a Sr308.8m ($82m) murabaha financing to fund a new hotel in Riyadh's diplomatic quarter.

Saudi Arabian engineering company Abdullah AM Al-Khodari Sons Co has signed Sr696m ($186m) of short term Islamic credit facilities.

The Islamic Development Bank has approved a financing agreement for an agricultural project in Mali worth $23.7m.