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)

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)

BANKING - Emirates NBD eyes Turkey for opportunities

thenational.ae - Emirates NBD is planning an overhaul of its customer service practices as it attempts to drive up the size of its consumer banking business.

The biggest bank in the UAE by assets, Emirates NBD is aiming to generate 50 per cent of group revenues from its retail banking operations, said Rick Pudner, the bank's chief executive.

"We're going to go back to basics and tweak our efficiencies," he said. "The key priority is making the bank hum. It's working well, but we need to fine-tune and make it more efficient." (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)