NIB closes $300m Murabaha facility for Bank Asya
Istanbul, April 6, 2011
Dubai-based Noor Islamic Bank, as initial mandated lead arranger and book runner with ABC Islamic Bank, National Bank of Abu Dhabi and Standard Chartered Bank, has closed a $300-million dual currency Murabaha facility for Turkey’s Bank Asya.
The announcement marks Noor Islamic Bank’s second successful transaction for Bank Asya and the third for a Turkish bank in the last 12 months.
The facility saw the participation of 26 international banks from across 19 different countries.
“We will continue to seek strategic opportunities beyond the UAE and leverage our world class footprint and expertise in the Shari’a compliant finance sector,” stated Hussain AlQemzi, CEO, Noor Islamic Bank and group chief, Noor Investment Group.
Noor Islamic Bank was previously ranked by Bloomberg as number one on the list of mandated lead arrangers in Islamic finance in the UAE and number three on the list of leading Islamic finance book runners in the UAE. Simultaneously, Noor was previously ranked number one by Thomson Reuters on the list of Islamic finance lead arrangers and book runners in the UAE, a statement said.-TradeArabia News Service
More Finance & Capital Market Stories
- Emaar proposes 15pc cash dividends
- ABG units win top Islamic finance award
- Finance House approves 25pc cash dividends
- Qatar 'most expensive country in Gulf'
- Egypt regulator sets rules for index
- Dubai Islamic eyes Kenya, Indonesia for expansion
- ADCB to buy back 3pc of its shares
- GCC insurance growth outpaces developed markets
- Bahrain 'faces budget deficit, inflation challenges'
- Global Payment Services wins key certification
- BBK unveils big India expansion plans
- Kuwait GDP growth to hit 3.5pc in 2014
- Gulf shares tumble over EM exposure cut
- GCC bonds to gain from macro-economic climate
- French Business Council Dubai members up 18pc
- Egypt economy growth seen less strong than thought
- Sharjah approves $4.2bn budget for 2014
- Saudi non-oil sector posts solid growth in Feb
- Seera total income rises to $34m
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch