Dubai: Qatar Gas Transport Co (Nakilat), the world’s largest shipper of liquefied natural gas (LNG), signed a $380 million murabaha-structured Islamic loan, a statement from one of the banks providing the finance said on Sunday.
Business | Markets
Qatar’s Nakilat signs $380m Islamic loan
Qatar firm signs a $380 million murabaha-structured Islamic loan
- Reuters
- Published: 17:44 August 12, 2012
Qatar Islamic Bank provided $180 million of the facility, the bank said in a bourse filing. Qatar International Islamic Bank provided the remainder of the cash.
No other details of the deal were provided.
A murabaha is a sharia-compliant cost-plus-profit arrangement.
Last month, Nakilat reported a 5.9-per cent jump in second-quarter profit partly due to better cost control.
Shares in Nakilat closed up 0.6 per cent on Sunday, trimming year-to-date losses to 10.5 per cent. Qatar’s main index has lost 4.1 per cent in 2012.
More from Markets
More from Business
Business Editor's choice
-
Mariner of the Seas in maiden call on Dubai
1,020-feet-long cruise ship en route to Singapore and China
-
GCC, Mena oil exporters face growth fall
Their average GDP to fall from 5.7% in 2012 to 3.2% in 2013
-
Profits hit by Eurozone crisis, Vodafone says
Vodafone’s businesses in Italy and Spain have been hit hard by the region’s sovereign debt crisis