Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena3 hours ago
The legal firm said in a statement on Sunday that it had advised 13 mandated lead arrangers to raise Dh13.22 billion ($3.6 billion) worth of conventional facility, a Dh5.51-billion ($1.5 billion) murabaha facility and a Dh1.84-billion ($500 million) co-ownership facility.
Murabaha is a certain kind of sale complying with the Muslim Shariah law and calls for an honest declaration of the cost of the commodities to be sold. It is one of the three types of bayu-al-amanah (fiduciary sale), the two others being Tawliyah (sale at cost) and Wadiah (sale at specified loss).
Two weeks ago two Gulf Arab sovereign wealth funds were reported to be looking to borrow up to Dh23.88 billion ($6.5 billion) to help finance expansion.
Bahrain's Dh36.73-billion ($10 billion) investment agency Mumtalakat Holdings was seeking Dh1.84 billion to finance acquisitions while ICD had started syndication of a loan worth Dh22.04 billion ($6 billion), Reuters had said, citing bankers. ICD pools some of Dubai's biggest firms.
ICD's loan would include two Islamic tranches of Dh5.51-7.35 billion ($1.5-2 billion), the report added, stressing that the loan would be used for general corporate activity, citing last month's interview.
Turkish president says the move is also aimed at increasing the amount of humanitarian aid entering Gaza
mena3 hours ago
In another case at the same airport, officials apprehended five foreign nationals who tried to smuggle gold worth Rs.24.4 million
asia4 hours ago
More than 2,000 pro-Palestinian protesters arrested in the past two weeks across the US
americas4 hours ago
Fireballs and Smash tied for the lead in the team event at the $25 million 54 hole tournament
sports4 hours ago
The hosts strengthened their chances of securing a slot in the semifinals with a 70-run victory in Abu Dhabi
sports5 hours ago
The group has a presence in five countries and eyes further geographic expansion, especially in India
markets5 hours ago
The severity of the situation gradually eased from Thursday evening, when it receded in the north and east of the country
weather6 hours ago
Cyclone Hidaya is predicted to cause torrential rain, strong winds and powerful and dangerous waves in the flood-ravaged country
africa6 hours ago