06.07.2011 - Albaraka Banking Groupís Egypt and Turkey units to issue Sukuks
Albaraka Banking Group (BARKA) BSCís units in Egypt and Turkey are planning to sell Islamic bonds and seek a Shariah-compliant syndicated loan, Chief Executive Officer Adnan Ahmed Yousif said. Al Baraka Bank Egypt ESC, the groupís Cairo-based arm, expects to raise 1 billion Egyptian pounds ($168 million) from the sale of 10-year Islamic bonds this summer. In Istanbul, Albaraka Turk Katilim Bankasi AS (ALBRK) plans to raise $200 million with a murabaha Islamic syndicated loan, Yousif said.............................................Full Article: Source
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