Sunday 15, July 2018 by Kudakwashe

KIB secures a $250 million Murabahah financing scheme

 

This new facility will help Kuwait International Bank (KIB) continue pursuing its strategic objectives to strengthen the bank’s position as an Islamic bank, says Mohamed Said El Saka, Acting CEO.

  

KIB announced that it has secured a $250 million three-year syndicated Murabahah financing facility, reported local daily, Arab Times.

The landmark financing was concluded with a consortium of international and local banks which include Standard Chartered Bank, First Abu Dhabi Bank as well as National Bank of Kuwait, Kuwait Finance House and Boubyan Bank.

El Saka, said that the competitive terms of this financing is a clear indication of the high confidence, strong reputation and ratings that KIB enjoys in the banking industry across the region.

  

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