Region - Middle East & North Africa
ITFC adopts Islamic software
The ITFC has signed an agreement to implement software from Path Solutions, an Islamic software provider.
FBN advances ME presence
John Vowell, FBN Bank UK’s director of STCF has moved from the bank’s London office to Abu Dhabi.
Petrochems firm nets expansion loan
Petroceltic International, an oil and gas explorer and producer, has secured a US$500mn loan.
Freshfields hires finance partner
International law firm Freshfields Bruckhaus Deringer has hired Tim Pick as a new finance partner.
US Exim enters into Dubai MOU
US Exim has signed a US$5bn MOU with Dubai Economic Council.
Gunvor ME opens credit line
Gunvor Group has secured a US$300mn revolving credit facility for its Middle Eastern operations.
Linklaters boosts Islamic finance
Linklaters has appointed Neil Miller as global head of Islamic finance.
Emal II closes first debt tranche
Dubal and Mubadala have signed the first debt tranche for the Emirates Aluminium (Emal) expansion project in the UAE.
Israel airline gets US finance
El Al Israel Airlines has received US$190mn from US Exim for the import of Boeing 737-900ER aircraft.
Murabaha first for DMCC
The Dubai Multi Commodities Centre (DMCC) has hosted the first murabaha transaction on its Tradeflow platform.
EBRD funds Jordanian SMEs
The EBRD has extended a trade finance credit line worth US$35mn to Cairo Amman Bank in Jordan.
Turkey aims for the top
Turkey is currently the 17th biggest economy in the world, and its ambitious government aims to join the top 10 within a decade. Coupled with the large import volume, this exponential export growth would make Turkey a US$1tn foreign trade economy. Perhaps unlike the comparably listless economies that surround it in the CIA’s list (France, the UK and Italy), Turkey is certainly heading in the right direction.
Turkey leading the way in Libya
Turkish companies are in pole position to capitalise on the economic growth in Libya.
Coface expects TCI growth in the UAE
Trade credit insurance (TCI) volumes in the UAE are expected to grow by 50% within two years, according to Coface.
Moroccan bank nets credit line
The EBRD has extended a credit line of US$75mn to BMCE Bank.
