Jul 25 2012
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US$ 250,000,000 Dual Currency Syndicated Murabaha Financing Facility
The facility was launched into general syndication on 19 July 2012, with banks from across the globe invited to participate in the Facility.
About Albaraka Türk Katılım Bankasi A.Ş.
Albaraka Türk is amongst the first financial institutions and one of the pioneers in the field of interest-free banking. It completed its establishment in 1984 and commenced operations in the beginning of 1985. Albaraka Türk is currently rated "BB" with negative outlook by S&P and "BB" with stable outlook by JCR Eurasia Rating.
Albaraka Türk continues its operations in compliance with the Law of Banking numbered 5411. Albaraka Türk was founded by Albaraka Banking Group (ABG), one of the prominent groups of the Middle East, Islamic Development Bank (IDB) and Alharthy Family, which served the Turkish economy for more than half a century. As of March 31, 2012, the share of the foreign partners is 66.16%, the share of the native partners is 11.06% and the share of public is 22.78% in the ownership structure of Albaraka Türk.
As a prominent participation bank in Turkey, Albaraka Türk enjoys a market share of 18.00% in the participation banking segment by asset size as of 31-Mar-2012. Albaraka Türk's balance sheet grew by 19.61% in 1Q-2012 with total assets of TRY 10.308 Billion as at 31-Mar-2012 compared to TRY 8.617 Billion as at 31-Mar-2011. As of 31-Dec-2011, Shareholders' equity stood at TRY 1.004 Billion, recording an increase of 17.8% over 2010. As at 31-Mar-2012, Shareholder's equity stood at TRY 1.044 Billion.
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