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FinancialNews
09-05-17
Qatar Islamic Bank, GDI ink USD925mn financing facility
(MENAFN) Qatar Islamic Bank has inked an USD925mn sharia compliant financing facility with Gulf Drilling Intl Limited QSC, which will be used to re-organize the firm's debt and enhance its operational performance.
Accordingly, QIB has become a pioneering financier to the energy sector capable of receiving structured Islamic solutions that match their clients complicated needs.
Furthermore, the financing arrangement will help keep GDI amid a period of challenging industry conditions and help confirm that GDI is well positioned to capitalize on chances arising as market conditions enhance.
The financing facility follows QIB's plan which is aligned with Qatar's National Vision 2030, while the bank offered Islamic financing solutions to many key entities.
MENAFN0905201700450000ID1095462341
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