BANKING - Noor Islamic Bank looks East

www.emirates247.com - Dubai-based Noor Islamic Bank is turning to the East, as it seeks to expand its international footprint beyond the Middle East and Turkey.
The bank, a leading Islamic finance provider in the UAE, believes the emerging economies of South East Asia, in particular, will provide significant opportunities for it to further grow its multi-billion dollar, cross border business.
“We see tremendous opportunities stemming from greater cooperation between financial institutions in South East Asia and the GCC,” said Hussain AlQ emzi, Group CEO of Noor Investment Group and CEO of Noor Islamic Bank. (source)

BANKING - Noor Islamic Bank does $2.2bn syndicated business in Turkey

www.ameinfo.com - Noor Islamic Bank has completed Islamic market mandates valued at over $2.2bn (Dhs8bn) in the past two years in Turkey, cementing its position as the leading UAE bank executing Shari'a compliant syndicated facilities in Turkey.

In its latest foray into the Turkish market, the bank, as an initial mandated lead arranger and joint bookrunner, successfully closed a $350m equivalent dual-currency Murabaha facility for Türkiye Finans Katilim Bankasi. Launched at $150m, the syndicated loan was oversubscribed by more than 2.5 times.

Over the past nine months Noor Islamic Bank has also been the initial mandated lead arranger and joint bookrunner for a $325m facility for Bank AYSA; a $75m facility for HALK Leasing and a $350m facility for Al Baraka Turk Bank.  (source)

BANKING - Noor Islamic Bank: can open up an office in Turkey

www.finansglobal.com - Noor Islamic Bank operating in the field of Islamic finance in Turkey is evaluating opening an office announced.

Hussain Al Qemzi, CEO of Dubai-based Noor Islamic Bank, one of Turkey's Islamic finance pointed out that the most important markets in terms of focus, düşünebileceklerini to open an office in Turkey, said that in the future.

According to the news in Sabah, Turkey, Islamic banks and major collaborations in terms of funding went to Al Qemzi noted, "Turkey in terms of Islamic finance, we focused on the Gulf countries and South East Asia. One of the best markets in Turkey. Turkey as in other European countries worst affected by the global crisis. The Turkish economy is well diversified. I have a strong domestic market only and is not connected to Europe. One of the best markets in terms of Islamic finance, "he said. (source)

BANKING - Noor Islamic Bank looking for license

www.dunya.com - Noor Islamic Bank in Turkey aimed at speeding up the flow of resources, commercial banking linsansı apply for.
 
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ISTANBUL - Noor Islamic Bank plans to apply for a license for commercial banking in Turkey.
Hussey, CEO of the bank providing information to Reuters El Qemzi, Noor Islamic Bank since the beginning of 2011 until the source provides over $ 2 billion to Turkey, said they are aiming to provide a further $ 1 billion by year's end.
 
"Turkey is too high resource demand. Especially in the field of SMEs," said the CEO, "Bank of Islamic bonds (sukuk) is very active in syndications and structured finance," he said.  (source)

FINANCE - Noor Islamic to arrange $1 bln Turkish debt by yr-end - CEO - May apply for Turkish banking license by end of this year

www.reuters.com - (Reuters) - Dubai-based Noor Islamic Bank has arranged more than $2 billion of debt transactions in Turkey since the beginning of 2011 and targets a further $1 billion before year-end, its chief executive officer told Reuters in an interview on Wednesday.
"There's huge demand for financing in Turkey, mainly in the SME (small and medium enterprises) business. We've done $2 billion...and expect another $1 billion this year," said Hussain Al Qemzi. (source)

BANKING - Noor Islamic Bank mulls setting up Malaysia and Turkey offices

DUBAI - Noor Islamic Bank PJSC, a lender controlled by Dubai’s government, may expand into Malaysia and Turkey as it seeks to attract more overseas business in the $1 trillion Shariah-compliant finance industry.

“We hope to open an office in Malaysia by the end of next year if we can get at least $500 million of business,” Chief Executive Officer Hussain Al Qemzi said in an interview in Kuala Lumpur  on Tuesday. The Islamic lender may also open an office in Turkey, where it hopes to conclude $2 billion of business by year-end, he said. (source)

CAPITAL MARKETS - Sukuk market needs 3 yrs to turn Noor Islamic chief says market now is shrinking - mandate from Bank Asya

Noor Islamic Bank does not expect the Islamic bond market to turn around for another three years, given the financial and political uncertainty in the region, its chief executive said on Wednesday.

"What you see in the sukuk market right now is not growing but I think it is shrinking a little bit in comparison to years before," Hussain Al Qemzi said in an interview. "I see three years before we see an upward trend in sukuk. We will see a stronger comeback afterwards." (source)

CAPITAL MARKETS - Noor Islamic expects to win Turkey sukuk mandates in 2011

Noor Islamic Bank, based in Dubai, expects to win at least two mandates to help sell sukuk out of Turkey this year, Chief Executive Officer Hussain Al Qemzi said in an interview at the World Islamic Banking Conference in Singapore. (source)