Middle East Loans

The Islamic Development Bank (IsDB) has signed an agreement with Tunisia worth $1.2bn.

Qatari borrowers were out in force this week after a three firms signed loans from the Islamic and conventional markets.

Investment Corporation of Dubai (ICD) has become the first of three Dubai firms with live deals in the syndicated loan market to close a transaction, signing an oversubscribed $2.55bn facility on Monday.

Kuwait Finance House (KFH) has signed and closed a $500m ijara financing facility for Sharjah Electricity & Water Authority (Sewa).

Qatar Petroleum Country (Qapco) has signed a QR1.1bn ($293m) three year Islamic loan from Barwa Bank.

Barwa Bank’s investment banking unit The First Investor (TFI) has a agreed a construction financing with US property developer Hines.

Mobile telecoms firm Zain Saudi has signed a Sr2.25bn ($600m) government-guaranteed three year Islamic financing facility. Saudi Arabia’s decision to provide an unconditional and irrevocable guarantee for Zain suggests that Gulf countries are becoming more willing to support the telecom sector, said Fitch in a research note, raising the possibility of cross border mergers.

Mobile telecommunications firm Zain Saudi has signed a SR2.25bn ($600m) three year murabaha financing guaranteed by its parent company.

Warba Bank, a Kuwaiti Islamic bank, has introduced a Shariah compliant qard hasan product in the local market.

Saudi-listed firm National Petrochemical Co (Petrochem) has signed a $600m two year Islamic financing deal with Riyad Bank.

International Bank of Azerbaijan (IBA), the largest bank in Azerbaijan, has completed a series of investor meetings for its new $100m murabaha syndicated facility.

Egyptian marine and offshore oil services company Maridive and Oil Services has signed a $150m loan in Egypt’s first ijara Islamic financing.