DUBAI, Aug 22 (Reuters) - The Turkish subsidiary of Bahraini Islamic lender Al Baraka has mandated banks for a $250 million sharia-compliant facility, the chief executive of the parent company said on Sunday.
'We'll be signing it on September 15,' Adnan Yousif, chief executive of Al Baraka, told reporters.
The lead arrangers of the murabaha facility for Al Baraka Turk are Standard Chartered, Lebanon's Blom Bank and a subsidiary of Bahrain's Arab Banking Corporation, Yousif said.
The facility will be used for general corporate purposes, he added.
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(Reporting by Nico Parasie; editing by Firouz Sedarat) (dubai.newsroom@reuters.com; +971 4 391 8301) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
'We'll be signing it on September 15,' Adnan Yousif, chief executive of Al Baraka, told reporters.
The lead arrangers of the murabaha facility for Al Baraka Turk are Standard Chartered, Lebanon's Blom Bank and a subsidiary of Bahrain's Arab Banking Corporation, Yousif said.
The facility will be used for general corporate purposes, he added.
(Click on for more Islamic finance stories and for a speed guide)
(Reporting by Nico Parasie; editing by Firouz Sedarat) (dubai.newsroom@reuters.com; +971 4 391 8301) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.