Dubai Islamic Bank makes shock Shariah exit from Albaraka Türk loan
In an unexpected move, Dubai Islamic Bank (DIB) pulled out of Albaraka Türk's latest $450m murabaha loan because it did not think the loan was Shariah compliant, according to two bankers on the deal. Turkish participation bank Albaraka Türk has signed a $450m-equivalent one year loan, which it increased from the $400m launch size.
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