Sector - Islamic Finance
Linklaters boosts Islamic finance
Linklaters has appointed Neil Miller as global head of Islamic finance.
Murabaha first for DMCC
The Dubai Multi Commodities Centre (DMCC) has hosted the first murabaha transaction on its Tradeflow platform.
Video: Changes in Mena's trade finance landscape
The European sovereign debt crisis, coupled with the aftermath of the Arab Spring, has changed the trade finance landscape in the GCC, forcing banks and corporates to look for increased security in transactions.
Martins heads NBAD's LatAm desk
Angela Martins has been chosen to head National Bank of Abu Dhabi’s (NBAD) trade finance activities in Latin America.
ITFC funds Bangladesh oil imports
The ITFC has signed a US$2bn annual financing plan with the government of Bangladesh.
Garant increases regional presence
Garant has signed a number of co-operation agreements to help aid its expansion in emerging markets.
Eurofin launches Asia Islamic TF fund
Eurofin Asia is launching a shariah-compliant Asia Islamic trade finance fund.
Saudi SMEs get financing boost
ICIEC has signed an MOU with National Commercial Bank to support small and medium enterprises in Saudi Arabia.
ITFC strikes energy deal with Egyptian government
The International Islamic Trade Finance Corporationhas signed a US$235mn murabaha agreement with the Egyptian General Petroleum Corporation to import petroleum products into Egypt.
Pakistan airline gets Islamic financing
Pakistan International Airlines (PIA) has received a US$35mn Islamic structured trade finance facility arranged by Standard Chartered.
Uzbekistan gas gets project financing
Lukoil Overseas Uzbekistan has received a US$500mn debt financing provided by a consortium of international banks and partly guaranteed by Miga.
A total of US$300mn has been extended by BNP Paribas Suisse, Crédit Agricole Corporate and Investment Bank and the Korean Development Bank. Of that amount, US$119.5mn is guaranteed by Miga’s political risk cover.
Kenya takes the lead: Islamic finance
With the growth in Kenya’s Islamic finance market picking up pace, it’s only a matter of time before the trade finance market starts to realise the opportunities. Shannon Manders reports.
Russian bank awarded Islamic funding
Russia’s Ak Bars Bank has brought in commercial and multilateral lenders to close a US$60mn syndicated Islamic financing.
Citi and the Islamic Corporation for the Development of the Private Sector both acted as lead arrangers and bookrunners on the deal, while the Eurasian Development Bank joined as a mandated lead arranger.
The one-year murabaha facility will be used for...
HSBC signs Islamic financing first
HSBC has signed a memorandum of understanding with International Islamic Trade Finance Corporation to facilitate shariah-compliant trade financing for ITFC’s customers.
Aktif Bank agrees two-step murabaha facility
Aktif Bank has won a US$10mn two-step murabaha financing facility from the International Islamic Trade Finance Corp, part of the Islamic Development Bank Group.
Aktif Bank tells GTR that the facility – one of the first two-step murabaha financings − will be utilised in trade finance-related transactions and will support intra-OIC (Organisation of the Islamic conference) trade.
The OIC is an Islamic inter-governmental organisation with a membership of...
