Middle East Loans
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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).
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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.
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Saudi Arabian engineering company Abdullah AM Al-Khodari Sons Co has signed Sr696m ($186m) of short term Islamic credit facilities.
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The Islamic Development Bank has approved a financing agreement for an agricultural project in Mali worth $23.7m.
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The Islamic Development Bank has agreed a €750m facility for Pakistan – by far its biggest loan to the country to date, according to IFIS data.
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Nigeria’s government is seeking a $450m loan from the Islamic Development Bank to expand a power transmission system which it said will generate up to 20,000 megawatts of electricity.
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Saudi Arabian investment firm Aseer Trading, Tourism and Industry has signed a Sr700m ($187m) seven year Islamic financing facility.
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Turkish Islamic bank Al Baraka Turk has caught the attention of a large banking group for its $250m murabaha facility that was launched last week.
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Saudi Arabian telecoms firm Zain Saudi has restructured Sr8.63bn ($2.3bn) of Shariah-compliant debt after almost 18 months of negotiations and repayment extensions.
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Saudi Arabia's International Methanol Company (IMC) has signed a new Sr325m ($87m) 10 year Islamic finance facility.
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Zain Saudi’s lenders have allowed the company another five years to pay back the remaining SR8.6bn ($2.3bn) of its murabaha facility, following numerous smaller extensions.
