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AK BARS Bank Closes Groundbreaking $60 million Murabaha Deal

Thu, 2011-09-22 16:34 — newsdesk

AK BARS Bank sealed the debut in CIS one-year syndicated Murabaha financing for the total amount of $60 million. Citi and the Islamic Corporation for the Development of the Private Sector (ICD) were the exclusive Joint Lead Arrangers and Bookrunners.
AK BARS Murabaha facility is the first international facility compliant with Shari’ah requirements organized for a Russian financial institution and follows on from the Islamic finance initiative announced by Tatarstan Republic earlier this year.

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http://www.globalislamicfinancemagazine.com/?com=news_list&nid=1900