cash needs – a feature that is uncommon in Murabaha deals. It re-profiled the company’s existing debt into a multi-tranche facility, funded a USD 80 million dividend, financed expansion, and met current working capital requirements. Al Hilal Bank was one of the Arrangers for the complex transaction.

“Al Hilal Bank facilitated a number of major deals in 2013 which helped us maintain our industry leadership and broaden the appeal of Islamic banking products and services. These two awards are a great way to start off this year and provide strong motivation for us to be involved in more important Islamic banking deals locally, regionally and internationally,” said Mohamed Jamil Berro, the Group CEO of Al Hilal Bank.

Al Hilal Bank has received numerous awards for fostering innovation, excellence and sustainability across its products, services and operations. The bank performed exceptionally well in 2013, which saw the institution receive an A1 rating by Moody’s Investors Service and an A+ rating by Fitch Ratings – the highest ratings awarded so far to an Islamic bank in the UAE. Al Hilal was also recently named the ‘Safest Islamic Bank in the UAE’ and second in the entire Gulf by Global Finance magazine in its first-ever list of the ‘Safest Islamic Banks in the GCC.’

 

 

 

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