Asya Bank

GCC banks close dual-currency deal for Asya

A consortium of Gulf-based banks has announced the successful closing of a $230.5 million and a euros 115.3 million syndicated dual-currency Murabaha financing facility for Turkish Bank Asya. Launched at $225 million, the facility was oversubscribed to close at $382 million equivalent with participation from 28 banks from across the globe. The facility carries a profit rate of 125 bppa over the relevant benchmark. The proceeds from the facility will be used by Bank Asya to expand its financing activities in Turkey. ABC Islamic Bank, Barwa Bank, Emirates NBD Capital, National Bank of Abu Dhabi, Noor Islamic Bank and Standard Chartered Bank were the Initial Mandated Lead Arrangers and also the Bookrunners for the deal.

Turkey’s sovereign sukuk spurs new issuances

Turkish Treasury explores opportunities for a possible Sukuk issuance in value of $1.5 billion that was initially valued at $1 billion. The demand for it is high as the overall market conditions became increasingly challenging. The Turkish Treasury's entrance to the sukuk market shall provide a trustable benchmark to the sector and help boost private issuance around the Gulf and worldwide.

See more under:

Turkey's Bank Asya to issue up to 150 mln lira sukuk in 2012

Turkish Bank Asya considers a sukuk issuance worth up to 150 million lira ($83 million) by the end of the current year. The money gained from the sukuk is to be used for finance investments.

More on:

Turkish participation banks continue to thrive

Althouth the Turkish participation (Islamic) banking sector isn't as attractive as other sectors, it is one of the most competitive in the global Islamic finance landscape.
Therefore, the datas for the following banks:Turkiye Finans, Asya Bank, Kuveyt Turk Participation Bank and Albaraka Turk Participation Bank is very encouraging.

Syndicate content