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ABG's Turkish Subsidiary Secures $240 Million Islamic Financing
MANAMA Published in Saudi Press Agency on 16 - 09 - 2010

Albaraka Türk Kat?l?m Bankas? (Al-Baraka Turk), a subsidiary-banking unit of Bahrain-based Al-Baraka Banking Group BSC (ABG), signed a $240 million syndicated Islamic financing in Istanbul.
Through the Shariah-compliant dual-currency syndication, Al-Baraka Turk raised $98 million and euro 108.5 million. The funding sought was oversubscribed by about two and a half time, Arab News reported today.
As many as 22 GCC, European and international banks, both Islamic and conventional, participated in the syndication.
The syndication was arranged and managed by Standard Chartered Bank, ABC Islamic Bank Bahrain and Noor Islamic Bank Dubai.

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