Al Baraka Banking Group announced its Turkish subsidiary, Al Baraka Turk Participation Bank, had concluded a syndicated Sharia-compliant Murabaha financing, raising a total of $278 million and €154.5 million ($175 million) with total financing of $450 million. Seventeen international banks from 11 countries participated in the facility, managed by the lead arrangers Standard Chartered Bank, ABC Islamic Bank, Barwa Bank, Emirates NDB Capital and Kuwait International Bank, said a report in the Gulf Daily News (GDN), our sister publication.

 

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