IslamicFinance.de

UAE's Mashreq Al Islami has successfully closed a 5 year USD 500 million senior secured syndicated facility for Ezdan Holding Group Company Q.S.C., the largest private sector real estate developer in Qatar. Mashreq Al Islami UAE acted as Mandated Lead Arranger, Sole Book Runner and Facility Agent for the facility. Other banks that participated in the financing included Abu Dhabi Islamic bank, Ahli United Bank, Emirates NBD, Gulf International Bank, HSBC Bank Middle East as Mandated Lead Arrangers, Sharjah Islamic bank, Warba Bank as Lead Arrangers and QIIB as asset custodian. The Facility proceeds will be utilized to support the Company's expansion and developmental plans in its core market.

Mashreq’s Islamic banking division, Mashreq Al Islami, has launched its flagship Islamic Equity Fund, Al Islami Arab Tigers Fund. The fund will facilitate investment in a diversified portfolio of growth and dividend stocks in the MENA region. The Al Islami Arab Tigers Fund will invest in listed equities of companies that comply with Shariah law values. Mashreq fund manager Reda Gomma said that given the spending spree by MENA governments to upgrade their infrastructure, corporate earnings are poised to grow substantially over the medium to long term. Al Islami Arab Tigers is a well regulated fund and is a good opportunity for investors to benefit from growing economies in the Middle East, Gomma added.

Mashreq Al Islami recently launched a range of Islamic banking solutions for business banking clients. In addition to personal banking products, the bank now offers flexible business solutions to small and medium sized enterprises (SMEs) across all their business needs. SMEs can benefit from multiple finance options while staying true to Sharia'h principles. Mashreq Al Islami 's Business Banking offers Small and Medium Enterprises a comprehensive suite of Islamic business solutions including Islamic business finance of up to AED1.5million, Islamic business current accounts offering a range of banking solutions on multiple business accounts, attractive and customized Takaful for life cover and savings plans, as well as Islamic treasury solutions.