Thursday 28 March 2024
 
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Murabaha

Emirates Steel finalizes $400m refinancing

Emirates Steel, a leading integrated steel plant in the UAE and a subsidiary of the General Holding Corporation (Senaat), has finalized a $400 million loan refinancing deal. The deal will enable the company to accelerate deleverag

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Nasdaq Dubai sees $100bn in Islamic finance deals

Transactions on the Nasdaq Dubai Murabaha Platform for Islamic financing have exceeded a total of $100 billion, reflecting its popularity with corporate and individual users. Established jointly by Nasdaq Dubai and Emirates Islami

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QInvest completes US murabaha transaction

QInvest, a leading private investment group in Qatar, has announced the exit of a real estate mezzanine murabaha transaction in the US. The transaction, backed by a diversified portfolio of 17 assets, generated an IRR of 14.9 per

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Tawseah marks signing of $515m financing

Bahrain National Gas Expansion Company (Tawseah), which owns and operates one of the two associated gas processing facilities in Bahrain, recently announced the successful signing of $515 million, eight-year syndicated financing facility.

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AlBaraka Turk closes two financing deals

AlBaraka Türk Katılım Bankası has closed a $278 million and EUR154.5 million ($174.4 million) dual tranche syndicated murabaha financing facility. Bank ABC Islamic, Barwa Bank QSC, Emirates NBD Capital, Kuwait International B

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$350m financing success for Turkish bank

Turkey's Kuveyt Turk Katilim Bankasi has successfully closed a $350 million equivalent syndicated dual currency dual tranche murabaha financing facility. ABC Islamic Bank, Abu Dhabi Commercial Bank, Barwa Bank, Emirates NBD Ca

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Bahrain Bourse appoints sharia adviser

The launch of "Murabaha" through equities programme by the Bahrain Bourse (BHB) has moved closer to implementation with the exchange appointing Dr Shaikh Osama Mohammed Bahar as its sharia adviser. Shaikh Osama has devel

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Wakala new alternative to Murabaha deals

Islamic interbank lending is now starting to move away from Murabaha contracts to Wakala, which is seen as a stronger Sharia-compliant process, said report. The International Islamic Financial Market (IIFM), the global standardisa

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Warba Bank launches ‘Murabaha’ service

Recently opened Islamic bank in Kuwait, Warba Bank, has launched its ‘Murabaha’ service to finance customers’ needs with entire flexibility via basic monthly installments. The new service, which is compliant with

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BBK, BMI Bank in $48m financing deal

BBK along with BMI Bank, through its Islamic banking division, has signed an agreement to provide a syndicated Murabaha BD18 million ($47.8 million) financing facility for Bahrain-based Arabian Sugar Company. As part of the agreement, BBK

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