IslamicFinance.de

AME Info published a press release on 8 April that The Bank of London and The Middle East plc (BLME) announced that it has participated in USD 20 mn of Forward Lease financing to Qatar Electricity and Water Company (QEWC), for the construction of the Ras Abu Fontas A1 (RAF A1) water desalination plant to be built in the northern part of Ras Abu Fontas, Qatar. The Islamic tranche of the transaction was introduced to BLME by European Finance House, London based subdiary of Qatar Islamic Bank. Out of the total project budget of USD 600 mn, USD 150 mn is Islamic financing which is being underwritten by QIB.

Humphrey Percy is CEO of BLME. Mike Clark is CEO of European Finance House.

Source: http://www.ameinfo.com/152651.html

AME Info reported on 30 March that the long awaited Saudi mortgage law is being considered by Saudi-Arabia's Consultative Council.

Islamic financing will play a promiment role in housing finance and it is expected that also the takaful industry will benefit from this move.

Full Text: http://www.ameinfo.com/151657.html