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NCB pioneers Shariah-compliant airport financing

Posted on 14 August 2012

The National Commercial Bank (NCB) is providing the first Islamic structured international airport financing for Prince Mohammed Bin Abdul Aziz International Airport in Madinah. Although NCB faces some challenges due to the nature of Shariah-compliant financing; government owned infrastructure, and build, transfer, and operate (BTO) structure; the bank will ensure the project is planned and executed in compliance with Shariah law.
Prince Mohammed Bin Abdul Aziz International Airport is estimated to cost $1.2 billion (SR4.5 billion) and NCB is providing a significant amount of the total funding through both senior participation and equity bridge financing. Islamic project financing of long-term infrastructure projects has largely been confined to the power and hydrocarbon sectors………………………………………..Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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