Africa Loans
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London, 26th September 2012: Bank of London and The Middle East plc, Europe’s largest Islamic bank, announces a significant senior secured transaction with Greenergy Biofuels Limited. BLME acted as lead arranger, with BLME and a Qatari-based bank having equal stakes. The facility is secured against the assets of a biodiesel plant in Immingham, Humberside, UK.
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Source: Tegara Net A banking consortium clinched a deal to arrange EGP 300 million Islamic financing for Emaar Misr, which will go for repaying the developer's outstanding liabilities.
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Source: Nation Multimedia Group Public Company Ltd.
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Source: Center for Aviation Industry
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NCB has been supporting Tibah consortium for Madina International Airport. Besides providing bulk of financing, NCB is the Islamic Structuring Bank in this landmark deal. This is the first Islamically structured International Airport financing in the world. Shari’ah compliant financing is primarily asset-based. However critical infrastructure such as airports are essentially owned by governments. The private entities only receive development and operating rights for a finite period. This made the Islamic structuring all the more challenging. Despite these constraints, an unprecedented structure is designed to ensure its compliance with shariah and maintaining the project’s bankability for the sponsors at the same time
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JEDDAH, KSA, 17.07.2012 –The 284th meeting of the Board of Executive Directors of the Islamic Development Bank, which convened at IDB headquarters starting Sunday 16 July, under the chairmanship of Dr. Ahmad Mohamed Ali, President, IDB Group, approved more than US$ 1,158 million towards development projects financing for IDB member countries and Muslim communities in non-member countries. This is the largest amount of approvals by a single IDB Board meeting since the Bank’s inception in 1975.
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Source: Euclid Infotech
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Clifford Chance advised DIFC Investments LLC (DIFCI) in securing a USD 1.035 billion Islamic syndicated facility to contribute towards financing in full the repayment of its USD 1.25 billion Sukuk maturing 13th June 2012. This is a landmark transaction in the history of the DIFC which further evidences the commitment of Dubai to meet its obligations in a timely manner.