18 Hrs
Source:
Sky News
Dubai Islamic completes first joint Islamic financing
The Dubai Islamic Bank successfully closed its first long-term joint Islamic financing facility worth $750 million for a period of three years. This was structured as a Murabaha of commodities and was unsecured, with total commitments amounting to $1.2 billion—approximately 1.6 times the facility amount. This deal reflects the confidence of global and regional financial institutions in the bank’s strong and resilient financial position. It also contributes to diversifying its sources of funding and enhances its standing in the international Islamic finance sector, despite challenging market conditions and geopolitical changes. This move aligns with the bank’s strategic goal to support sustainable financing and expand its global presence in the Islamic banking industry.
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