| Japan's Sumitomo Mitsui Banking Corp. has arranged a syndicated loan of USD 750 million for an airport project in Saudi Arabia that meets Islamic financing principles, a top-selling business daily here reported Monday.
The deal is believed to be the largest-ever Islamic financing facility arranged by a Japanese bank, the Nikkei Shimbun said.With European banks having become cautious about lending, Japan's second-biggest banking group hopes to enhance its presence in the Middle East through Islamic financing, which prohibits interest, the report said...............................................Full Article: Source
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