SUKUK - Turkish delight

HABIB SHAIKH (Souq Sukuk) 6 November 2010

Raising finance through a sukuk can be a key contributor towards Turkey’s long-term funding requirements in the global sukuk market that took place recently was the launch of a three-year $100 million Wakala sukuk on August 23, by Istanbul-based Kuveyt Turk Participation Bank, in which global Islamic banking major, Kuwait Finance House, or KFH, has a controlling 62 per cent equity stake.

BANKING - ABG's Turkish subsidiary secures $240m Islamic financing

MANAMA: Albaraka Türk Katılım Bankası (Al-Baraka Turk), a subsidiary-banking unit of Bahrain-based Al-Baraka Banking Group BSC (ABG), signed a $240 million syndicated Islamic financing in Istanbul.  Through the Shariah-compliant dual-currency syndication, Al-Baraka Turk raised $98 million and euro 108.5 million. The funding sought was oversubscribed by about two and a half time.