Al Baraka Turk plans $250 mln Islamic loan

DUBAI Aug 22 (Reuters) - The Turkish subsidiary of Bahraini Islamic lender Al Baraka BARKA.BH has mandated banks for a $250 million sharia-compliant facility, the chief executive of the parent company said on Sunday.

"We'll be signing it on September 15," Adnan Yousif, chief executive of Al Baraka, told reporters.

The lead arrangers of the murabaha facility for Al Baraka Turk (ALBRK.IS) are Standard Chartered (STAN.L), Lebanon's Blom Bank (BLBDF.BY) and a subsidiary of Bahrain's Arab Banking Corporation ABCB.BH, Yousif said.

The facility will be used for general corporate purposes, he added. (Click on [ID:nISLAMIC] for more Islamic finance stories and ISLAMIC for a speed guide) (Reporting by Nico Parasie; editing by Firouz Sedarat)