Oct 23 2011
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Noor Islamic Bank leads US $1.4bn Islamic Finance Mandates in Turkey
Noor is the leading UAE bank in the Turkish market
Dubai, October 23, 2011: Noor Islamic Bank ( Noor ) has been mandated to arrange and lead manage more than US $1.4 billion Islamic finance capital market deals in Turkey in the last 18 months, making it the most active UAE bank in the republic.
Noor released details of its financial dealings in Turkey on the eve of the Islamic Investment and Finance Forum, scheduled to take place in the Turkish capital Istanbul, from October 24-27. Noor is the Sukuk partner for the event.
The Turkish deals led by Noor have been very well received by the global markets as demonstrated by the participation of over 55 institutions from 15 countries across Europe, Africa, Asia, and the Middle East. One of the most striking features of the transactions arranged by Noor Islamic Bank has been that 56% of the participants were conventional institutions. This is testimony to the credibility and soundness of Islamic finance and how it continues to gather momentum and attract greater interest.
Noor has an active pipeline of deals for the rest of this year and leading into 2012. It is in the final stages of closing more than three unique Shari'a compliant structured facilities
"The Noor brand is growing internationally and we will continue to seek strategic opportunities beyond the UAE where we can leverage our undoubted expertise in the Shari'a compliant financial sector. Our Turkish deal pipeline is very dynamic and we are committed to being an active partner to the Turkish Islamic finance industry."
During the four-day Islamic Investment and Finance Forum, leading regional and international Islamic finance experts will discuss a range of key topics for the Islamic finance industry including how to revive the global sukuk markets, following the financial crisis; kick starting sukuk markets in frontier economies; new business opportunities for Islamic syndicated finance and the future of Participation (Islamic) banking in Turkey.
Among those addressing the conference will be Ibrahim Turhan, Deputy Governor, Central Bank of Turkey, Michael Davey, Director, Turkey, European Bank for Reconstruction and Development, Mohammed Said Shahin, Deputy Governor, Central Bank of Jordan and Jaseem Ahmed, Secretary General, Islamic Financial Services Board, Malaysia. Saadat Yaqub Bajwa,
Noor Islamic Bank
's Head of Financial Institutions, Syndications and Debt Capital Markets, will also be speaking at the conference.
Established in 2008 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, and Sharjah. For further details, please visit: www.noorbank.com or call 800NOOR(6667).
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© Press Release 2011
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