Al Baraka Turk Participation Bank Concludes USD 450 million Syndicated Murabaha Financing


Al Baraka Banking Group announced that its Turkish subsidiary, Al Baraka Turk Participation Bank, had concluded a syndicated Sharia compliant Murabaha financing, raising a total of US$ 278 million and EUR 154.5 million with total financing of US$ 450 million.

A number  of 17 famous international banks from 11 countries participated in the facility, managed by the lead arrangers Standard Chartered Bank, ABC Islamic Bank (E.C.), Barwa Bank, Emirates NDB Capital and Kuwait International Bank. The syndicated murabaha facility is comprised of two tranches representing a total of US$ 87,5 million and Euro 98,25 million for a tenor of 367 days and US$ 190,5 million and Euro 56,25 million for a tenor of two years and three days. The deal follows the syndicated Murabaha financings raised by the bank since 2010 that each were in themselves significant amounts.

On this occasion, Mr. Adnan Ahmed Yousif, Chairman of the Board of Directors of Al Baraka Turk Participation Bank and President & Chief Executive of Al Baraka Banking Group commented "We are indeed delighted at the large success of the syndicated Murabaha financing deal this year, despite the volatile financial markets and international economic situation, which  endorses the reputation of Al Baraka Turk Participation Bank and its distinguished position in the Turkish market, based on the strength of its financial position and growing performance over the past many ears, as well as the distinguished reputation and position of the parent company, Al Baraka Banking Group, regionally and internationally.

For his part, Dr. Fahrettin Yahsi, Member of the Board of Directors and General Manager of Al Baraka Turk Participation Bank said "With the continuing and steady growth of Al Baraka Turk Participation Bank over the past decade, the Bank became a major player in the Turkish market. Therefore, we constantly strive to strengthen and diversify our financial resources, duly endorsed by our financial performance and our ability to adapt to the current economic situation in the world markets. Besides it has helped us gain an excellent reputation in the Turkish market, which is our main focus, because of the diversity and promise of opportunities that it offers."

Al Baraka Banking Group (B.S.C) is licensed as an Islamic wholesale bank by the Central Bank of Bahrain, listed on Bahrain Bourse and Nasdaq Dubai stock exchanges. It is a leading international Islamic banking group providing its unique services in countries with a population totaling around one billion. It is jointly rated BBB+ (long term) / A3 (short term) on the international scale and A+ (bh) (long term) / A2 (bh) (short term) on the national scale with a Stable outlook by Islamic International Rating Agency & Dagong Global Credit Rating Company Limited, and by Standard & Poor's at BB+ (long term) / B (short term) with a Stable outlook. Al Baraka offers retail, corporate, treasury and investment banking services, strictly in accordance with the principles of the Islamic Shari'a. The authorized capital of Al Baraka is US$ 1.5 billion, while total equity is at about US$ 2 billion.

The Group has a wide geographical presence in the form of subsidiary banking units and representative offices in fifteen countries, which in turn provide their services through over 573 branches. Al Baraka currently has a strong presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Bahrain, Pakistan, South Africa, Lebanon, Syria, Iraq and Saudi Arabia, including two representative offices in Indonesia and Libya.
















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