The company will use the financing, which was secured through a a form of Islamic financing known as a commodity murahaba facility, to expand and finance its construction operations in Qatar.

Ezdan Contracting is a wholly-owned subsidiary of the local Ezdan Real Estate Company.

Al-Yusr Islamic Bank is the Islamic banking branch of the International Bank of Qatar.

A murahaba facility is structured so that, instead of charging interest as on a conventional loan, the profit percentage on the transaction is agreed beforehand.