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KIB to fund Al-Baraka Turk through consortium

KIB to fund Al-Baraka Turk through consortium
Photo Credit: Arabianeye-Reuters
KIB
KIB
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Kuwait-Mubasher: Kuwait International Bank (KIB) declared that it is among a bank consortium to arrange for financing the Turkish Bank Al-Baraka with $150 million.

 

KIB denied being the head of the consortium, confirming that KIB is taking part in a group formed of five banks .

 

KIB pinpointed that payment arrangements are under discussion and expected to be approved by the Turkish Al-Baraka Bank in a short time.

 

The International Bank said that the five-bank consortium will offer the finance to other local, regional, and international banks to take part.