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Albaraka Banking Group’s Egypt and Turkey Units to Raise Funds

05/07/2011 08:23:16 PM GMT   Comments ()     Add a comment   Print     E-mail to friend

Albaraka Banking Group (BARKA) BSC’s 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 group’s 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 in a telephone interview yesterday. Wire External Story - Read full article here is not responsible for the content of external internet sites

Source: AJP

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