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 - Albaraka Turk mandates for 1 year Murabaha Syndication

www.finansglobal.com - Albaraka Turk, one-year term for $ 250 million murabaha syndicated loans the banks have signed a letter of appointment.

Albaraka

(Finansglobal) - ABC Islamic Bank (EC), Al Hilal Bank PJSC, Bank Islam Brunei Darussalam Berhad, Emirates NBD Capital Limited, Noor Islamic Bank PJSC and correspondent banks led by Standard Chartered Bank, one-year term murabaha syndication will be denominated in USD and EUR .  (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 - Turkiye Finans enters into USD 350 mio Murabaha Syndication

www.finansglobal.com - Turkey Finance, the total participation of 15 countries, 29 international markets, the bank provided 350 million U.S. dollars Murabaha syndication.

provided by financial markets syndicate finansUluslararası turkey Murabaha Finance General Manager of Turkey Derya Gürer Speaking at the signing ceremony, the consortium led ABC Islamic Bank, HSBC, said Noor Islamic Bank and Standard Chartered Bank undertook.  (source)

BANKING - Turkiye Finans obtains a USD 350 mio Murabaha Syndication

www.dunya.com - Finance General Manager of Turkey Derya Gürer: This syndication and corporate finance to SMEs primarily to companies in need of support, reasonable cost and kullandıracağız conditions.
ISTANBUL - Turkey Finance, the total participation of 15 countries, 29 international markets, the bank provided 350 million U.S. dollars Murabaha syndication.
Bank of Asia syndicate of international financial markets has provided Murabaha Finance General Manager of Turkey Derya Gürer Speaking at the signing ceremony, the consortium led ABC Islamic Bank, HSBC, said Noor Islamic Bank and Standard Chartered Bank undertook. (source)

FINANCE - Turkey is finance Murabaha syndication

www.finansglobal.com - Turkey Finance, with the participation of 15 countries, 29 of the bank provides a new Murabaha syndication.

Turkey according to a statement from Finance, ABC Islamic Bank, HSBC Bank Middle East, Noor Islamic Bank, Standard Chartered Bank Signing Ceremony on May 14 at the Conrad Hotel Syndicated assumed leadership of the consortium to be done.

The statement did not appear in the amount of syndication.  (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.
 
Zeki Gündüz writings of tax considerations

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)

FINANCE - Turkey's Bank Asya gets $325 mln dual-currency Islamic loan

www.reuters.com - (Reuters) - Turkish lender Asya Katilim Bankasi (Bank Asya) has secured a $325 million dual-currency syndicated Islamic loan, a statement from Emirates NBD, one of the arranging banks, said on Tuesday.

Late last year, the lender, which offers non-interest banking services adhering to Islamic law, postponed a foray into debt capital markets by delaying a sukuk issue worth up to $300 million.

The syndicated loan comprises a $201 million tranche and a 96.5 million euro segment, and is structured as a murabaha facility. (source)

CAPITAL MARKETS - Turkey's Albaraka postpones sukuk issue

ISTANBUL: The Turkish unit of Bahrain's Albaraka Banking Group said it had postponed a planned issue of Islamic bonds, saying the yields investors expected were too high.

"Because of the negative environment in international markets the yields international investors are seeking are not matching with our expectation," the lender said, adding that demand was very good.  (source)

CAPITAL MARKETS - Albaraka Turk hopes to raise $200m in sukuk-CEO

Dec 11 (Reuters) - The Turkish unit of Bahrain's Albaraka Banking Group hopes to raise $200 million in an Islamic bond by the end of this week and is seeing interest from Asian and Arab Gulf investors, the group's chief executive said on Sunday.

"We're in the market for this sukuk and hope to raise $200 million by the end of this week," Adnan Yousif told Reuters.

"Pricing for the sukuk is very reasonable. It's in the 6 percent range," Yousif added.  (source)

CAPITAL MARKETS - Islamic Bond Alert

ALBARAKA TURK KATILIM BANKASI AS (ALBRK): The Turkish Islamic bank owned by Bahrain-based Albaraka Banking Group BSC hired Deutsche Bank AG, Emirates NBD, QInvest Llc and Noor Islamic Bank to manage a sale of as much as $200 million of five-year Islamic bonds, it said in a statement to the Istanbul Stock Exchange on Oct. 21. 

ASYA KATILIM BANKASI AS (ASYAB): The Turkish Islamic bank will offer as much as $300 million of five-year sukuk. Bank Asya, as the lender is known, hired Citigroup Inc. and UBS AG for the sale and has started talks with investors, the bank said in a filing with the Istanbul Stock Exchange.(source)

BANKING - Albaraka Turk names banks for sukuk roadshow

Nov 21 (Reuters) - Albaraka Banking Group's Turkish unit Albaraka Türk Katlm Bankas has mandated four banks on a series of investor meetings and may issue an Islamic bond as early as next month, a banker familiar with the matter said on Monday.

"Albaraka Turk mandated Deutsche Bank, Emirates NBD, Noor Islamic Bank and QInvest to arrange fixed income meetings in Asia, Europe and the Middle East starting Nov 26," the banker, who asked not to be named, told Reuters.  (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 - Turkey’s Tax Change Paves Way for Sukuk Sales: Islamic Finance

Islamic bond sales from Turkey are picking up pace after the government changed its tax law to apply the same rates to sukuk as non-Islamic debt.

Two banks, Asya Katilim Bankasi AS (ASYAB) and Albaraka Turk Katilim Bankasi AS (ALBRK), plan to sell as much as $500 million in Shariah-compliant debt after Kuveyt Turk Katilim Bankasi AS, a unit of Kuwait Finance House (KFIN) KSC, offered $350 million of five- year sukuk Oct. 20. (source)

FINANCE - Turmoils shift the axis of Islamic investments (Noor Islamic might launch branch)

hurriyetdailynews.com - The ongoing unrest in North Africa and the Middle East have directed many investors from Gulf countries to Turkey. The newcomers include many Islamic bankers, says to top executive of Dubai-based Noor. (source)

CAPITAL MARKETS - Albaraka Turk Hires Banks for as Much as $200 Million Sukuk

mobile.bloomberg.com - Albaraka Turk Katilim Bankasi AS (ALBRK), a Turkish Islamic lender, hired banks to offer as much as $200 million of five-year sukuk.

Albaraka Turk hired Deutsche Bank AG (DBK), Emirates NBD, QInvest Llc and Noor Islamic Bank, it said in a statement to the Istanbul Stock Exchange today. (source)

CAPITAL MARKETS - Noor Islamic Bank leads US $1.4bn Islamic Finance Mandates in Turkey

wam.ae - WAM Dubai, Oct. 23, 2011 (WAM) -- 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.  (source)

FINANCE - Albaraka Türk Katılım Bankası A.Ş., Turkey US$ 350,000,000 equivalent Dual Currency Syndicated Murabaha Financing Facility (the "Facility")

ABC Islamic Bank (E.C.), Emirates NBD Bank PJSC, Noor Islamic Bank and Standard Chartered Bank (together the "Initial Mandated Lead Arrangers" and the "Bookrunners" are pleased to announce the successful closure and signing of a US$ 350,000,000 equivalent Dual-Currency Syndicated Murabaha Financing Facility for Albaraka Türk Katılım Bankası A.Ş. ("Albaraka Türk" or the "Bank"). (source)