Khaleeji Commercial Bank provides $25m banking facility for Bukhatir Investment, UAE

Based in Sharjah, United Arab Emirates, Bukhatir Investment is one of the largest and diversified business groups, with interests in construction, education, engineering services, information technology, manufacturing and real estate.

The facility agreement was signed at a ceremony held at Bukhatir Group's offices in Sharjah and was attended on behalf of KHCB by Mr. Tariq Al-Arabi, Senior Manager (Corporate Banking), and by Abdul Rahman Bukhatir, Chairman of the Group.

Commenting on this transaction, KHCB's Chief Executive Officer and Board Member, Mr. Ebrahim H. Ebrahim, said:

"The Bank is keen to expand relationships in the GCC and we are supported in this effort by our strategic shareholders across region. We are happy to support Bukhatir Investment Group in implementing a number of expansion projects in various sectors."

On his part, Mr. Abdul Rahman Bukhatir, Chairman of Bukhatir Investment Group said, "Our partnership with a reputable financial institution such as KHCB will provide an opportunity for our Group to go ahead with its planned expansion projects. We take this opportunity to extend our thanks to KHCB for their confidence in the Group, and hope that this partnership will mark the beginning of a longstanding relationship."

"Diversification of investments has been a key component of our strategy and the facility provided by KHCB will be a great support for our ambitious plans, given the current financial crisis," he added.