ADIBE’s MD Mohamed Aly anticipates significant funding from IFC
After a slight contraction in activity during the COVID-19 crisis, the bank’s head hopes to negotiate up to $50 million from the multilateral organisation.
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▪ ADIBE’s MD Mohamed Aly anticipates significant funding from IFC
▪ After a slight contraction in activity during the COVID-19 crisis, the bank’s head hopes to negotiate up to $50 million from the multilateral organisation.
▪ https://www.africabusinessplus.com/en/809930/adibes-md-mohamed-aly-anticipates-significant-funding-from-ifc/
Significantly, this deal with the International Finance Corporation (IFC) will utilise a Murabaha financing structure. The Abu Dhabi Islamic Bank (ADIB), the parent company of Abu Dhabi Islamic Bank Egypt (ADIBE), is the Emirate’s leading Islamic bank, and the transaction being considered will have to comply with Islamic finance rules.
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