Gulf International Bank (GIB) has closed a $500 million Murabaha facility. This move marks its first Islamic syndicated transaction in international markets.
To begin with, the deal saw overwhelming demand from many regional and international banks. Consequently, the financing facility became significantly oversubscribed.
This strong market appetite confirms GIB’s financial strength and credibility. Additionally, it highlights investor confidence in the bank’s long-term performance.
Notably, GIB will use this facility to support growth across its core markets. The funding will also strengthen its expansion across various business lines.
Sara Abdulhadi, the CEO of GIB, said the success reflects growing trust in GIB Murabaha facility plans. She emphasized that the diverse bank participation showcases GIB’s reputation as a leading pan-GCC bank.
Moreover, Abdulhadi stressed that the GIB Murabaha facility forms part of a wider plan. The goal is to expand its funding sources and reduce reliance on traditional borrowing.
Furthermore, the deal supports GIB’s commitment to Shariah-compliant financial products. These offerings are growing in popularity across the region and globally.
Key international players managed the deal structure. SMBC Group led as the Initial Mandated Lead Arranger, Bookrunner, and Coordinator. Emirates NBD Capital Limited and First Abu Dhabi Bank PJSC also joined as Lead Arrangers.
This Murabaha facility enables GIB to achieve strategic funding goals. It also positions the bank to meet increasing client needs across the GCC.
By attracting international investment, GIB broadens its reach. It also boosts its resilience in a competitive banking environment.
The GIB Murabaha facility strengthens its business foundation. The funding allows for further innovation and service growth.
Looking forward, GIB aims to build on this success. The bank will pursue similar deals to maintain funding diversity and market trust.
To conclude, GIB’s focus remains on sustainable, Shariah-compliant financial growth. Through such initiatives, it continues to lead in Islamic finance and syndicated transactions
