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Russian-Led Development Bank Plans to Expand Islamic Financing

Wed, 2012-02-22 16:55 — newsdesk

According to Chief Executive Officer Igor Finogenov, Eurasian Development Bank wants to expand Shariah-compliant financing after helping arrange a deal last year.
The bank is searching to boost lending that respects the Islam’s ban on interest after serving as mandated lead arranger for a $60 million syndicated Murabaha facility for Kazan, Russia-based AK Bars Bank in September.

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