Middle East Loans

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.

Abu Dhabi barge operator Gulf Marine Services is close to signing a Dh1.32bn ($360m) syndicated Islamic financing facility.

Turkiye Finans has hired five banks to arrange a $250m murabaha facility. The deal has been launched into the market.

Group Construction Products Holding Company (CPC), the industrial arm of Saudi Binladin (SBG), has signed a $150m murabaha facility with Standard Chartered.

Dubai state-owned Investment Corporation of Dubai (ICD) is near to signing its $2bn conventional and Islamic refinancing facility, with bankers eager to complete the deal by the end of May.