Thursday, May 03, 2012
(This story was originally published Wednesday.)
BEIRUT (Zawya Dow Jones)--Khaleeji Commercial Bank, or KHCB, a Bahrain-based Islamic retail bank, Wednesday said it has arranged financing worth $40 million for the U.A.E.'s property developer Meydan Group.
KHCB, an affiliate of Gulf Finance House, said in a statement that the group will use the funds for its general working capital requirements and for financing its under way projects, including the Meydan City development in Dubai.
The bank's shares ended 2.4% lower at 0.040 Bahraini dinar ($0.11) in an overall negative market.
-By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
03-05-12 0352GMT
