US$75 million dual currency Murabaha facility for Turkish bank
ABC Islamic Bank along with Noor Islamic Bank PJSC and Standard Chartered Bank have been mandated by Turkey’s Bank Asya to arrange a US$75 million (and/or equivalent in Euros) syndicated dual currency Murabaha financing facility (the “Facility”).
The facility which offers a profit margin of 225bps over the applicable benchmark has been structured as a Shari’a compliant dual-currency facility with a one-year tenor. Proceeds will be used to fund Bank Asya’s Islamic trade finance activities.
Source:
http://www.arabbanking.com/En/AboutABC/Media/Press/Pages/US$75milliondualcurrencyMurabahafacilityforTurkishbank.aspx
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