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Abu Dhabi Islamic Bank finances JBF RAK LLC's expansion with Dhs275m

Mon, 2012-02-20 10:08 — newsdesk

Abu Dhabi Islamic Bank (ADIB) closed a Dhs275m ($75m) syndicated Islamic financing facility for JBF RAK LLC (JBF RAK), a subsidiary of JBF Industries. This indicates the debut Islamic finance facility for JBF RAK. It is a leader in the Middle East region with a market share of over 20% in chips and film products.
The financing will be used to develop JBF RAK production in Ras Al Khaimah including the purchase of new machinery and equipment and to optimize its debt profile by presenting Islamic term funding.

Source: 

http://www.ameinfo.com/289509.html