Doha-Mubasher: Qatar Islamic Bank (QIB) has collaborated in a murabaha financing facility to NOGA Holding, the investment and business development arm of Bahrain’s National Oil and Gas Authority, according to a statement.

QIB has contributed $63 million (QAR 229.6 million) to the five-year sharia-compliant financing facility which amounts to $570 million.

The Qatari bank is among 10 gulf and international banks that served NOGA Holding as financiers of the cost-plus-profit arrangement.

On the stock market, QIB started Sunday’s session with a fall of 2.03% to QAR 101.5, after 826 shares were traded at about QAR 85,120.