Bank Of Baku

Syndicated loan attracted by International Bank of Azerbaijan assessed as most successful Islamic banking deal of 2013

Syndicated loan attracted by International Bank of Azerbaijan assessed as most successful Islamic banking deal of 2013
# 09 January 2014 08:53 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. International experts of the Islamic Financial News and representatives of the leading Islamic banks assessed the deal on syndicated loan attracted by the International Bank of Azerbaijan (IBA) within the Islamic banking as the most successful international deal of 2013, APA-Economics reports quoting IBA.

 

IBA signed a deal with Barwa Bank, Emirates NBD Capital and JPMorgan and Noor Islamic Bank to attract syndicated loan as a part of Murabahah (Islamic banking product) in July, 2013. The initial volume of the loan was $100m, there were more orders and consequently IBA attracted $120.5m.

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