Ajman Bank finalizing $205 million Islamic loan
DUBAI: Ajman Bank, a United Arab Emirates-based, shariacompliant lender, is raising a $205 million Islamic syndicated loan, banking sources said yesterday. The loan, which has a two-year maturity and a murabaha format, will be completed imminently, the sources said, with one saying it would close as early as today. Ajman Bank did not respond immediately to a request for comment. The loan is backed by lenders including Noor Bank, which is investment agent and bookrunner, and Dubai Islamic Bank , the sources said. Ajman Bank raised $155 million through another two-year murabaha loan in March last year and an additional $200 million three-year syndicated Islamic debt facility in January 2015.