Al Rayan Bank hosts packed Islamic Finance ‘Question Time’ (Islamic Bank of Britain plc)

Edit Public Technologies 20 Apr 2016
A question was raised about whether Al Rayan Bank had considered Murabaha (resale and profit) as a structure for home finance. The audience was advised that the Bank looked at all options when it developed the HPP but found that it would be very difficult to use a Murabaha contract over the long term. Murabaha contracts are more suitable for short ......

Al-Dawli’s Savings Account Realizes the Fastest Growing Return in 2015 (Kuwait International Bank KSC)

Edit Public Technologies 20 Apr 2016
(Source. Kuwait International Bank KSC) ... 'The savings Account combines the benefit of investment and savings, as well as competitive features like the ability of opening the account in Kuwaiti Dinar or any other major foreign currencies, no minimum balance to be maintained, free Visa Debit Card, freedom to withdraw and deposit into the account and Murabaha financing facilities', he added ... Original Document....

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES DEVELOPMENTS REGARDING THE USE OF PROCEEDS FROM ITS RIGHTS ISSUE SHARES SUBSCRIPTION (Ma'aden - Saudi Arabian Mining Company)

Edit Public Technologies 19 Apr 2016
(Source. Ma'aden - Saudi Arabian Mining Company) ... 1. Offering Expenses. ... As stated in the prospectus, the Company used SAR 509 million of the proceeds from the offering as at 31/03/2015, to repay amounts then outstanding under its redrawable murabaha finance facility which had been temporarily used to fund costs incurred by Maaden Bauxite and Alumina Company and SAR 7 million to fund the balance of its equity contribution to the project....

Saudi's Bahri says secures 1.43 bln riyal Islamic loan for five VLCCs

Edit Reuters 03 Apr 2016
DUBAI, April 3 (Reuters) - National Shipping Company of Saudi Arabia said on Sunday it had signed a murabaha facility with Riyad Bank valued at 1.425 billion riyals ($380 million) to finance the construction cost of five very large crude carriers. ....

Bahrain's Nogaholding Borrows $570 Million for Oil, LNG Projects

Edit Bloomberg 30 Mar 2016
The company arranged the Murabaha facility with 10 banks including Bank of Tokyo-Mitsubishi UFJ, BNP Paribas SA and HSBC Holdings Plc, it said Wednesday in an e-mailed statement ... Other banks participating in the Murabaha facility include Arab Banking Corp., Ahli United Bank BSC, Arab Petroleum Investments Corp., Gulf International Bank BSC, National Bank of Bahrain BSC, Qatar Islamic Bank SAQ and Kuwait Finance House ... ....

Bahrain's Nogaholding secures $570 million Islamic loan

Edit Reuters 30 Mar 2016
DUBAI, March 30 (Reuters) - Nogaholding, the holding company for oil and gas assets owned by the government of Bahrain, signed to obtain a five-year, $570 million murabaha financing facility, it said on Wednesday. ....

Speech of H.E. Vice Governor of SAMA at the First Islamic Banking and Finance Research Conference (Saudi Arabian Monetary Agency)

Edit Public Technologies 29 Mar 2016
(Source. Saudi Arabian Monetary Agency) ... Dr ... Dear Audience, ... It is noteworthy to highlight the significant and effective role played by specialized centers, universities, bank Sharia boards and committees in the development and growth of this industry over the last decade by improving financial tools and Sharia-compliant products such as Ijara , Istisna`a, Salam products, in addition to speculation, Musharaka and Murabaha contracts ... Dr....

KFH Wins “Best Islamic Bank in Kuwait 2015” Award from IFN (Kuwait Finance House KSC)

Edit Public Technologies 28 Mar 2016
(Source ... Post Date . 28/03/2016 ... Kuwait Finance House (KFH) won three awards from Islamic Finance News Magazine (IFN), which are 'Best Islamic Bank in Kuwait 2015', 'Kuwait Deal of the Year' for its participation in National Industries Holding KWD 85 million Commodity Murabaha where KFH's share of the deal amounted to KD 25 Mln, and Turkey Deal of the Year related to the KT Kira Sertifikaları Varlık Kiralama RM800 million Sukuk Wakalah....

Clifford Chance advises on over US$1 billion refinancing for 1,730MW PP11 gas-fired independent power project in Saudi Arabia (Clifford Chance LLP)

Edit Public Technologies 14 Mar 2016
on over US$2 billion funding for SEC (with conventional and Islamic tranches), ACWA Power on SAR1.11 billion facilities, a group of 30 global and regional lenders on US$10 billion revolving credit facilities (with conventional and Islamic tranches) to Saudi Aramco, Saudia Aerospace Engineering Industries on a SAR3.5 billion murabaha facility and ......

Emirates Global Aluminium 2015 profit plunges on weak demand

Edit The National 29 Feb 2016
Revenues fell to Dh18.7bn in 2015 from Dh19.8bn the previous year ... The firm concluded an Dh18bn conventional loan facility and Islamic commodity murabaha facility with banks to prepay existing facilities held by Emal and fund its growth plans, the statement said ... business@thenational.ae....

Emirates Global Aluminium 2015 profit plunges on weak prices

Edit The National 29 Feb 2016
Revenues fell to Dh18.7bn in 2015 from Dh19.8bn the previous year ... The firm concluded an Dh18bn conventional loan facility and Islamic commodity murabaha facility with banks to prepay existing facilities held by Emal and fund its growth plans, the statement said ... business@thenational.ae....

46 ICD provides $10 mln to develop Uzbekistan's healthcare sector

Edit Topix 27 Feb 2016
An opening ceremony of a multi-disciplinary medical center, Vitamed Medical Center, was held in Tashkent, Uzbekistan, said Arab News . The Islamic Corporation for the Development of the Private Sector extended a $10-million Murabaha facility for the financing of medical equipment, furniture and fixtures required for the operations ... ....

Clifford Chance advises on Kuveyt Türk's first issuance of Basel III compliant Tier 2 sukuk ...

Edit Public Technologies 23 Feb 2016
(Source. Clifford Chance LLP). Clifford Chance, together with its associate firm, Yegin Çiftçi Attorney Partnership Istanbul, recently advised the joint lead managers on Kuveyt Türk's US$350 million subordinated Tier 2 certificates issuance listed on the Irish Stock Exchange ... The certificates utilise a wakala structure, with the wakala assets comprising certain Ijara assets, Murabaha receivables and tangible investment sukuk. Mr. R....
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