IslamicFinance.de

Bahrain Islamic Bank (BISB) has successfully closed a debut $101 million one-year Syndicated Murabahah Financing Facility. The Facility will be used for general funding purposes. Initially it was launched for $50 million and following strong interest BISB decided to utilise the significant over-subscription to increase the Facility size to $101 million. A total of eight banks from the GCC and Europe participated in this transaction. They include Bank ABC Islamic, Boubyan Bank, Dubai Islamic Bank, Emirates Islamic, Sharjah Islamic Bank, National Bank of Ras Al Khaimah, The Islamic Corporation for the Development of the Private Sector, Federated Project and Trade Finance Tender Fund, and Federated Project and Trade Finance Core Fund. Sole Bookrunner and Coordinator was the Bahrain-based Bank ABC, which expressed its delight with the closure of the transaction and wished Bahrain Islamic Bank continued growth in the future.