The Investment Dar looks for expansion funds

03 December 2007

Kuwaiti Islamic investment bank The Investment Dar is to launch a $300m syndicated sharia-compliant facility.

The murabaha will finance the bank’s geographic expansion.
“Having firmly established ourselves in Europe, we are targeting East Asia,” deputy chief executive officer Amr Abu al-Saud said in a statement.
The roadshow for the sharia-compliant syndication included visits to Singapore and Kuala Lumpur.
The Islamic banking divisions of Standard Chartered Bank and HSBC are acting as underwriters for the murabaha.

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