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 - 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)

BANKING - Turkiye Finans secures Murabaha Facility and Sukuk in in the pipeline

www.reuters.com - Turkish Islamic bank Turkiye Finans secured a $350 million murabaha loan, and plans to issue $300 million sukuk at the end of the year, general manager Derya Gurerk said late on Monday. (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)

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)

FINANCE - Turkish Bank Asya gears up for syndicated loan

www.m2.com - 1 March 2012 - Turkish lender Asya Katilim Bankasi AS is seeking to get a syndicated Islamic loan that could be denominated in various currencies, the bank said in a bourse filing yesterday.

In particular, Asya plans to draw a one-year loan worth the equivalent of USD200m (EUR150m). (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)

FINANCE - BIBD provides Murabaha financing to Turkish firm

bt.com.bn - BANK Islam Brunei Darussalam Berhad (BIBD) will be providing financing of US$75,000,000 ($97,500,000) to Turkiye Finans Katilim Bankasi (TKFB) AS under the bank's Murabaha Financing Facility.

BIBD, one of Brunei's largest financial institutions, said the financing facility will be for five years and will provide funding for small and medium enterprises (SME) in Turkey. (source)

FINANCE - Turkey Finance, Bank Islam Brunei Darussalam'dan murabaha loan was a $ 75 million.

ISTANBUL - Turkey Finance, Bank Islam Brunei Darussalam murabaha loan with a 5-year term with the new $ 75 million in the year 2011 a total of 800 million dollars worth of foreign loans has been provided. SMEs as a priority use of the new loan will be available from the received usury. (source)

BANKING - Turkey's bank Albaraka will improve its bottom line by 38.7% in 3Q11-Erste

We expect the bank to improve its bottom line by 38.7% in 3Q11 to TRY 42mn; which also marks 26% y/y growth, mainly driven by strong top line profitability. The bank's volume growth performance should be in line with its peer average. We also foresee 5% quarterly growth in total loans.  (source)

IDB - IDB boosts financing cooperation with Turkish corporates

The Islamic Development Bank (IDB) latest $75 million line of financing to Turkiye Finans Participation Bank, one of the four participation (Islamic) banks in Turkey and in  which Saudi Arabia's National Commercial Bank has a controlling stake, underlines the proactive involvement of the multilateral development bank of the Muslim world in Turkey over the last three decades. (source)

FINANCE - Emirates NBD announces Q3 2011 results with operating profit of Dhs5.0bn (yndicated term loan and murhaba financing facilities for banks based in Turkey)

ameinfo.com - Emirates NBD announced its results for the nine months ended 30 September 2011. Positive and resilient operating performance with pre-impairment operating profit of Dhs5.0bn for the 9 months ended 30th September 2011 and Dhs1.8bn for Q3 2011, the highest quarterly level this year.

Net profit for the 9 months ended 30th September 2011 of Dhs2.3bn, up 20% compared with the same period in 2010. Earnings per Share for the period up 23% to Dhs0.38.  (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 - New 350 million USD loan for Albaraka Turk

New Murabaha syndicated loan, will be used to meet the capital needs of SMEs.
ISTANBUL - Albaraka, in September 2010 provided $ 240 million Murabaha syndicated loan amounting to more then signed a new agreement. The Bank's new $ 350 million for a syndicated loan of 25 banks and financial organizations from 17 countries signed the agreement. (source)

CAPITAL MARKETS - FRANCE - Al Baraka to launch 100 mln euro bank in France by H1 2012 - Albaraka Turk to issue Sukuk

JEDDAH, Saudi Arabia, Aug 11 (Reuters) - Bahraini Islamic lender Al Baraka will expand to France next year and expects to launch a bank with a capital of 100 million euros ($142 million) by the first half of 2012, the bank's top official told Reuters.

Al Baraka had announced in 2009 its plan to launch operations in France but had to postpone it due to the financial crisis. (source)

BANKING - FINANCE - Noor Islamic Bank posts Dhs85m net profit for the period ending June 30th (Albaraka Turk)

Noor Islamic Bank (NIB) recorded a net operating profit of Dhs207m for the first six months of 2011, on a revenue base of Dhs386m. Net profit for the period ending June 30th was Dhs85m. The bank remains adequately capitalized with a capital adequacy ratio of 18.36%. (source)

IDB urged to make trade financing more competitive

Behind the resolutions, the statements and the rhetoric of the Board of Governors of the Islamic Development Bank (IDB) at the recent 36th Annual Meeting which was held in Jeddah on June 29-30, were some commendable suggestions from member countries aimed at speeding up the efficiency and effectiveness of the bank. (source)

FINANCE - US$ 150,000,000 Dual Currency Syndicated Murabaha Financing Facility

Albaraka Türk Katılım Bankası A.Ş. ("Albaraka Türk") has mandated ABC Islamic Bank (E.C.), Emirates NBD Bank PJSC, Noor Islamic Bank PJSC and Standard Chartered Bank (together the "Initial Mandated Lead Arrangers" and the "Bookrunners") to arrange a US$ 150 Million equivalent Dual-Currency Syndicated Murabaha Financing Facility (the "Facility") on its behalf. Financing under this Facility will be used by Albaraka Türk to expand its financing activities in Turkey. The Facility has a tenor of one year and carries a profit rate of 150 bppa over the relevant LIBOR/EURIBOR.(source)