IslamicFinance.de

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.

AK BARS Bank has finished with success the debut in CIS one-year syndicated Murabaha financing for the total amount of $60 million.
Mandated Lead Arranger was Eurasian Development Bank. Investment Agent was acted by Citibank International Plc.
AK BARS Murabaha facility is the first international facility compliant with Shari’ah requirements arranged for a Russian financial institution.