Global Arab Network | Qatar Islamic Bank to raise QR3.5bn for European investments

Translate this article to your language:

GANPublications

e-Publications

Add Site to Favorites

Add Page to Favorites

Make Homepage

Share This Page

RSS Feed

--------------------------------------------------------------------------------------------------------------------
| |

Qatar Islamic Bank to raise QR3.5bn for European investments

Global Arab Network - - Hannan Taha

Thursday, 10 September 2009 18:19

Qatari Diar Real Estate Investment Company (Qatari Diar), the leading Qatari real estate developer and investment firm, has appointed Qatar Islamic Bank (QIB), the leading Islamic bank in Qatar, as Initial Mandated Lead Arranger and Bookrunner to raise a five year QR3.5bn Sharia'-compliant syndicated facility to finance European investments.

This is the first time that a local Qatari bank has been appointed as the sole MLA and Bookrunner for such a high-profile transaction. The Islamic facility will be subject to the final regulatory approvals.

Salah Jaidah, QIB CEO, said during the signature, ceremony:
'We are proud to be the first Qatari bank appointed to lead such an important transaction for the State of Qatar's most important real estate developer. This, I believe, is the result of our determination, continuous professionalism and expertise in Islamic banking, in particular, and the growing international footprint of QIB. Today, QIB can cater to the needs of its large corporate clients both in Qatar and abroad with the same high standard levels of any other international bank.'

Speaking on behalf of Qatari Diar, CEO Ghanim Bin Saad Al Saad stated, 'We are pleased that a company like Qatari Diar with a diversified portfolio worldwide can find a leading Qatari bank such as QIB is able to support us for large international Sharia'-compliant transactions such as this one.'

Jean Marc Riegel, General Manager Corporate Investment and Development Group at QIB, said:
'The appointment of QIB as MLA and Bookrunner for this transaction is a clear indication of the international expansion strategy and Investment Banking strategy of the Bank and its ability to deliver the needs of key Qatari companies both in Qatar and abroad. This transaction comes at a time where Europe and France, in particular, are eager to develop Islamic finance and is at the same time in line with QIB Group's plan to serve European and French markets.'

Global Arab Network

Add comment

The opinions of the authors in articles published are theirs alone and do not necessarily reflect the views of Global Arab Network
------------------------------------------------------------------------------
Published comments are the opinions of private individuals and do not reflect the views of Global Arab Network