al khaliji, the region’s ‘next generation’ bank, participated recently in a $255m (QR928m) dual currency Islamic Structured murabaha syndicated facility for Turkey’s largest Islamic bank — Bank Asya — through al khaliji Group Corporate and Institutional Banking. The biggest Islamic Murabaha syndication ever executed in Turkey in dual currency ($121.5m and ¤99.15m), represents the largest and most successful international syndicated finance involvements by regional and international banks to date. The Bank Asya Murabaha facility was more than three times oversubscribed, al khaliji said. A clear indication that al khaliji continued support to specialised financial institutions in emerging markets adds real value to its bank’s growing portfolio and develops its existing relationships with banks in the GCC, the region and beyond, the bank said. Robin McCall, Acting Chief Executive OfficerBank Audi in al khaliji said, “This marks yet another major milestone for us and is a testimony to the considerable relationship that al khaliji is growing in the international financial community.” Bank Asya’s one year facility is the first global Islamic Murabaha arranged by any financial institution in 2010 and is underwritten by three Initial Mandate Leads and subscribed by a consortium of 24 banks from 16 countries.
source : the penisula