Qatar Islamic Bank (QIB) - the largest Islamic bank in Qatar and one of the top-five Sharia’-compliant banks in the world -has announced its participation in the current biggest financing operation in the energy sector carried out by Qatar Petroleum, by offering $500m to finance the Barzan Gas project through Istisna/Ijara instrument.
The amount committed by QIB through the Sharia’-compliant ‘Istisna/Ijara’ investment vehicle constitutes the largest ticket of the Islamic financing tranche in the project, which amounted to an overall total of $850m. (Press Release)