Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has successfully concluded its US$ 500mn, five-year Club Commodity Murabaha term facility. The landmark transaction highlights yet another significant achievement in securing long-term USD funding for Emirates Islamic.
With an extremely competitive profit rate for a five-year tenor, the facility was accomplished within an accelerated timeframe, demonstrating disciplined execution and seamless coordination among all stakeholders.
The facility attracted strong interest from leading international banks, reflecting Emirates Islamic’s robust relationships with global financial institutions and its reputation as a trusted partner.
Strategic growth
“The landmark transaction further positions Emirates Islamic for strategic growth, strengthens our focus on innovating with purpose, elevating customer experience and enables us to achieve our funding objectives,” affirmed Farid Al Mulla, Chief Executive Officer, Emirates Islamic.
“Concluding this five-year club financing facility at exceptionally tight pricing, with strong demand from international banks, is a clear testament to the market’s confidence in Emirates Islamic’s financial strength, prudent management and strategic direction,” noted Mohammad Kamran Wajid, Deputy Chief Executive Officer, Emirates Islamic.
Emirates Islamic’s financial strength, prudent management and strategic direction. The facility further reinforces the bank’s robust liquidity position, enabling continued support for stakeholders, a press statement concluded.
