April 19 Turkish Islamic lender Albaraka Turk
has secured a $213 million murabaha-based loan
syndication, up from the $150 million it initially sought, the
bank said in a statement.
The bank said the profit margin for the 370-day
sharia-compliant facility was 125 basis points over three-month
The lender had appointed ABC Islamic Bank, Dubai Islamic
Bank, Emirates NBD Capital Ltd, Qatar Islamic Bank and Standard
Chartered Bank to arrange the transaction.
The bank is a unit of Bahrain-based Al Baraka Banking Group
, which is also planing to issue dollar-denominated
Islamic bonds, or sukuk, according to banking sources.
(Reporting by Bernardo Vizcaino; Editing by Amrutha Gayathri)