Apr 06 2011
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Noor Islamic Bank Successfully Closes US$300-million Structured Murabaha Syndicated Facility for Bank Asya
Istanbul-Turkey: 6 April, 2011 - Noor Islamic Bank , as Initial Mandated Lead Arranger and Book Runner with ABC Islamic Bank (E.C.), National Bank of Abu Dhabi PJSC and Standard Chartered Bank, has successfully closed a US$300-million dual currency Islamic structured Murabaha Syndicated Facility (the "Facility") for Bank Asya, one of Turkey's leading Islamic banks.
The announcement marks Noor Islamic Bank 's second successful transaction for Bank Asya and the third for a Turkish bank in the last 12 months.
Despite challenging and uncertain regional market conditions, the Facility was substantially oversubscribed reflecting the international financial community's continuing confidence in the Turkish economy and banking sector. The Facility saw the participation of 26 international banks from across 19 different countries.
Noor Islamic Bank was previously ranked by Bloomberg as number one on the list of mandated Lead Arrangers in Islamic finance in the UAE and number three on the list of leading Islamic finance Book Runners in the UAE. Simultaneously, Noor was previously ranked number one by Thomson Reuters on the list of Islamic finance Lead Arrangers and Book Runners in the UAE.
About Noor Islamic Bank
Established in 2007 in Dubai, Noor Islamic Bank is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalized services. Noor Islamic Bank 's products and services are governed by a Shari'a Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has locations across the UAE in the Emirates of Abu Dhabi, Dubai, Sharjah, and a representative office in Tunisia which is managed out of Dubai. For further details, please visit: www.noorbank.com or call 800NOOR(6667).
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