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European Islamic Investment Bank PLC, a Sharia’a compliant investment bank, said Tuesday it has sold a financing facility provided to Arcapita for $8.1 million in cash, to Barclays Bank.
Facility, dating from 2007, formed part of a syndicated loan facility which was due for repayment in March 2012. Arcapita defaulted on its payment obligations and in early 2012 announced that it had filed for Chapter 11 protection in the U.S………………………………………..Full Article: Source
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Islamic Finance Briefing - Categorized | Banking, Market Moves more
European Islamic Investment Bank sells Arcapita facility for $8.1 mln
| Posted on 13 February 2013 |
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