DUBAI Oct 18 Ajman Bank, a United
Arab Emirates-based, sharia- compliant lender, is raising a $205
million Islamic syndicated loan, banking sources said on Tuesday
The loan, which has a two-year maturity and a murabaha
format, will be completed imminently, the sources said, with one
saying it would close as soon as Wednesday.
Ajman Bank did not respond immediately to a request for
The loan is backed by lenders including Noor Bank, which is
investment agent and bookrunner, and Dubai Islamic Bank
, the sources said.
Ajman Bank raised $155 million through another two-year
murabaha loan in March last year and an additional $200 million
three-year syndicated Islamic debt facility in January 2015.
(Reporting by Davide Barbuscia; Editing by Andrew Torchia and