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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Sakana, BMI Bank sign Islamic financing deal

Posted on 18 January 2010

From Ameinfo.com: Bahrain-based Sakana Holistic Housing Solutions, the innovative Islamic mortgage finance provider, and BMI Bank (BMI), an associate of BankMuscat, the largest financial services provider in Oman, recently signed commodity Murabaha Islamic financing facility whereby BMI Bank provided BD3m funding for one year to Sakana towards working capital requirements.
This agreement is in continuation of the successful relationship which both organizations have established over the last two years with Islamic financing facilities amounting to BD8.2m extended by BMI to Sakana which were repaid on due date…………………………………..Full Article: Source

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