The $200m financing facility was jointly underwritten by Emirates Islamic Bank, Standard Bank Plc of South Africa and Khaleeji Commercial Bank of Bahrain.
Other participating banks in the deal are Abu Dhabi Commercial Bank, Bank of London and the Middle East (UK), United Bank Ltd (UAE), Affin Islamic Bank Berhad (Malaysia), Sharjah Islamic Bank and the National Bank of Umm Al Qaiwain. The deal was successfully closed with a high-level signing ceremony held on 8th April 2008 at the Head Office of Emirates Islamic Bank in Dubai, United Arab Emirates.
Speaking on the occasion, Mr. Ebrahim Fayez Alshamshi, CEO of Emirates Islamic Bank, said 'this new partnership involves some of the largest financial names in the region and beyond. The Qatar Energy City is a unique project that symbolizes the vision and futuristic plans of the region in general and Qatar in particular. It is also in line with Emirates Islamic Bank's core value of playing an integral part in the development of the GCC'.
Energy City Qatar is poised to become the region's first integrated business and residential hub dedicated to the hydrocarbon industry, targeting the oil and gas companies that have a presence in Qatar. The Energy City project is a $2.6bn project which was launched in March 2006. It is divided into two phases ECQ1 and ECQ2. ECQ1 will house corporate offices and other business related infrastructure and the second phase ECQ2 would provide residential facilities to these Corporates having base in ECQ1.
Emirates Islamic Bank and Standard Bank Group arrange $200m syndication for Qatar Energy City project-Qatar
Emirates Islamic Bank, one of the leading Islamic financial institutions of the region, together with other financial powerhouses has entered into a new strategic agreement with Energy City Development Company WLL to finance partially the prestigious Energy City project in Qatar originally sponsored by Gulf Finance House.
- United Arab Emirates: Tuesday, April 15 - 2008 at 14:16
- PRESS RELEASE
- ADD ARTICLE TO
-
Facebook
del.icio.us
Digg
Log in to request more information from Emirates Islamic Bank (EIB)Notes and media contacts
Issued on behalf of Emirates Islamic Bank by tamra C2. For additional information, please contact Randa Gharzeddine onTel: 009714 295 11 77,
Fax: 00971 4 295 11 88.
About Emirates Islamic Bank:
Emirates Islamic Bank opened its doors in October 2004 with a mission to provide consumers in the UAE with effective and innovative Shari'a-compliant financial solutions.
The Bank offers a range of Shari'a compliant products and services conforming to the highest standards of Islamic finance and all its activities are overseen by a Shari'a board comprising several prestigious scholars of Islamic law.
On the retail side, the bank has an array of products, such as a full range of credit cards including Visa Infinite Card; Manzili Home Finance, Intaleq Car Finance, and many other products. The bank has also launched Al Reem Ladies Banking, a specialized banking service designed to cater to the banking and financial needs of women in the region.
The bank also offers Ethmar Priority banking to suit the demands of the high-net-worth clients.
Emirates Islamic Bank is very active on the Corporate Banking level, seeking exceptional investment opportunities in the local as well as the regional market. Within almost three years of its inception Emirates Islamic Bank has managed to position itself as one of leading financial players in the UAE's banking sector. The bank's rapid growth and success is mainly due to its continued successful launch of Shari'a compliant products, services and other key business initiatives.
EIB is headquartered in Dubai and employs more than 800 staff.
Posted by Lara Lynn Golden, News EditorTuesday, April 15 - 2008 at 14:16 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Index : Company News : Emirates Bank Group : Emirates Islamic Bank (EIB)
Browse related articles
Browse related articlesToday's most read articles:
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
Web Feeds