Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Tuesday, November 11, 2008

KFH Concludes US$155 Million Syndicated Murabahah Deal

KUALA LUMPUR - Liquidity Management House, a wholly-owned subsidiary of Kuwait Finance House KSC (KFH), has concluded a US$155 million (RM556.84 million) syndicated secured master murabahah facility for commercial real estate company Al Tijaria.

Al Tijaria is a listed Kuwaiti shareholding company engaged in the development of properties in Kuwait and other Gulf Cooperation Council (GCC) countries.

The murabahah deal was oversubscribed by 50 percent over the original sum offered, KFH said in a statement released from Kuwait Tuesday.

The facility will be utilised for general corporate purposes as well as funding of several prestigious ongoing property projects which Al Tijaria is engaged in, it added.
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