20.10.2010 - Capinnova to finance Mecca project
From Zawya.com: Capinnova Investment Bank, the Sharia compliant investment banking arm of BBK offered a US $16.5 million bridge financing facility to support the financing of a religious hospitality project in Mecca. The project consists of a hotel located 1.3 km away from the Haram. The development is in the final stages of completion and will be the first of its kind providing Muslims worldwide (including non-GCC residents) an opportunity to have an interest in Mecca project. The creative structure enables foreign investors return from a hotel asset in the holy city of Mecca through investing in a Cayman Island (Special Purpose Vehicle)..............................................Full Article: Source
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