Banks close US$70 million syndicated Murabaha financing facility.

From: Middle East and North Africa Business Report | Date: March 13, 2006 | Copyright information

Mar. 13--Emirates Islamic Bank and ABC Islamic Bank (the "Arrangers") have successfully closed syndication for a 3-year amortizing syndicated Murabaha financing facility with a total of $ 70 million for Esfahan Steel Company, Islamic Republic of Iran ("ESCO").

The transaction has received strong support from the general syndication market and the Facility has been over-subscribed. The participants in the Facility include many of the leading regional Islamic and conventional institutions.

The signing ceremony was held in Bahrain on the 2nd of March 2006, and was attended ...

Read all of this article with a FREE trial to HighBeam Research

Related newspaper, magazine, and trade journal articles from HighBeam Research

(Including press releases, facts, information, and biographies)

Emirates Islamic Bank tops in profit distribution
; Emirates Islamic Bank announced its profits on investment...General Manager Retail Banking at Emirates Islamic Bank stated:" The year 2007 witnessed even greater success for Emirates Islamic Bank on all fronts, from new product...
Emirates Islamic Bank Leads US$30.5 Million Syndicated Financing Agreement for Iranian Steel Company
; Emirates Islamic Bank announced it has signed a syndicated...entity that supports the industry. "Emirates Islamic Bank is pleased to lead on this facility...Shamsi. The syndication included Emirates Islamic Bank with US$10 million, ABC Islamic...
Banking with Emirates Islamic Bank is always a unique experience!
; Banking with Emirates Islamic Bank always had its fair share of...of the bank found out that Emirates Islamic Bank is never short of ideas to...was always happy to deal with Emirates Islamic Bank but this surprise is one that...
Emirates Islamic Bank Makes Online Bill Paying Easier
; Emirates Islamic Bank, a leading innovator in delivering...platform," said Abdulelah Al Kindy, Emirates Islamic Bank Senior Vice President, Head of...customers are constantly changing, and Emirates Islamic Bank is always looking to deliver convenience...
Emirates Islamic Bank the highest profit distributor on investment and saving accounts for three consecutive years
; Emirates Islamic Bank announced its profits on investment...General Manager Retail Banking at Emirates Islamic Bank stated: "These results confirm...after our new branch openings". Emirates Islamic Bank is expected to open several other...
Emirates Islamic Bank co-sponsors Al Multaqa Al Ramadani
; ...the second year in a row, Emirates Islamic Bank co-sponsors Al Multaqa Al...Manager Retail Banking at Emirates Islamic Bank commented saying: "This...of Branches and Ethmar at Emirates Islamic Bank, said: "I am honoured to...
Launch of Emirates Islamic Equity Trading Fund
; Emirates Islamic Bank PJSC is pleased to announce the...sixth Shari'a compliant fund in the Emirates Islamic Bank suite of investment funds in Jersey...the investment cycle. The CEO of Emirates Islamic Bank, Ebrahim Fayez Al Shamsi commented...
Emirates Islamic Bank Relocates its Al Ain Branch to Expanded Services
; Emirates Islamic Bank announced today that it has relocated...President, Head of Retail Banking, Emirates Islamic Bank. Alkindy further commented that...facilities and Islamic credit cards. Emirates Islamic Bank's new relocated branch at Al Ain...
Emirates Islamic Bank ranked best Islamic Bank in the UAE
; Emirates Islamic Bank topped the annual Benchmarking...to Mr. Ebrahim Fayez Al Shamsi, Emirates Islamic Bank CEO, at the bank's headquarters...surprising as from the beginning Emirates Islamic Bank has strived to give the best in...
Emirates Islamic Bank showcasing Manzili Home Finance in the Property Finance Show
; Emirates Islamic Bank announced its participation in...transparent home finance solution. "Emirates Islamic Bank regularly takes part in major real...and more innovative products from Emirates Islamic Bank" The exhibition will be held in...