US$75 million dual currency Murabaha facility for Turkish bank

ABC Islamic Bank along with Noor Islamic Bank PJSC and Standard Chartered Bank have been mandated by Turkey’s Bank Asya to arrange a US$75 million (and/or equivalent in Euros) syndicated dual currency Murabaha financing facility (the “Facility”).

The facility which offers a profit margin of 225bps over the applicable benchmark has been structured as a Shari’a compliant dual-currency facility with a one-year tenor. Proceeds will be used to fund Bank Asya’s Islamic trade finance activities.