Published: Jul 02, 2014
Source: Emirates 24|7


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UAB signs Dh367m Murabaha syndication deal

3-year facility with 4 banks is first Islamic Murabaha syndication by the bank

United Arab Bank (UAB) has completed a 3-year syndicated Murabaha facility worth $100 million (Dh367 million) with four banks based in the UAE, Bahrain and Kuwait, said a press statement on Tuesday.

The Murabaha deal is the first Islamic syndication completed by UAB.Al Hilal Bank, headquartered in the UAE, served as the Mandated Lead Arranger and Bookrunner for the deal, while the Arab Banking Corporation, headquartered in Bahrain and Sharjah Islamic Bank, were the other Mandated Lead Arrangers. The National Bank of Kuwait also served as a Lead Arranger. Read more>>>

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