28.07.2010 - ADIB provides $50mln Ijara facility to Gulf Marine Services WLL
Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, today announced that it had signed an agreement to provide $50m (Dhs183.5m) Islamic finance facility to Gulf Marine Services WLL, to fund the acquisition of the continued growth of the company. The Ijara (lease to own) facility, will have a tenure of five years. Tirad Mahmoud, CEO of ADIB said, "We value our partnership with Gulf Marine Services highly as they are a market leader in the Offshore and Oil Services industry in the region. We plan to build on this agreement and provide them with other long term financing options to help in their expansion. We hope to customize our other products and services to their requirements and strengthen this relationship.".............................................Full Press Release: Source
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