Shamil Bank was established in June 2000 following the merger between Faysal Islamic Bank and Islamic Investment Company of the Gulf. It now operates as a Bahraini Shareholding Company and holds offshore banking and local commercial banking licences issued by the Bahrain Monetary Agency.
Shamil Bank is considered the largest Islamic commercial bank in Bahrain and one of the largest Islamic financial institutions in the GCC.
This financing is Shamil Bank's debut in the syndicated market and is a further milestone in the Bank's development and growth.
The Bank's Long Term Foreign Currency and Financial Strength Rating has been upgraded by Capital Intelligence Rating to BBB- following its annual review in August 2004.
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Shamil Bank of Bahrain B.S.C. ('Shamil Bank') USD50,000,000 Syndicated Murabaha Facility
- Bahrain: Saturday, September 18 - 2004 at 09:39
- PRESS RELEASE
Gulf International Bank B.S.C. (the 'Mandated Lead Arranger') is pleased to announce that it has been mandated by Shamil Bank (the 'Purchaser') to arrange and underwrite a USD50,000,000 3-year Syndicated Murabaha Facility (the 'Facility').
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Summary details of the FacilityPurchaser: Shamil Bank of Bahrain B.S.C.
Amount: US$50,000,000
Facility Type: Syndicated Murabaha Facility
Term: 3 years
If there are any questions relating to the above please do not hesitate to contact.
Gary Griffiths
Vice President
Gulf International Bank B.S.C.
Telephone: +973 1752 2663
or
Saleh Al-Jaroodi
Vice President
Gulf International Bank B.S.C.
Telephone: +973 1752 2553
Posted by Anne-Birte Stensgaard, Senior News EditorSaturday, September 18 - 2004 at 09:39 UAE local time (GMT+4)
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