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Dubai Islamic Bank Arranges $215 Million Project in Abu Dhabi

2010-04-07

Dubai Islamic Bank PJSC, the United Arab Emirates’ biggest Islamic lender, said it arranged a financing deal of 790 million dirhams ($215 million) for Kharafi National. Dubai Islamic will cover the financing requirements for Kharafi National’s sub-contract with a JGC–Tecnimont joint venture to develop the Habshan 5 gas project for Gasco in Abu Dhabi, according to the statement. Kharafi National is a Kuwait- based construction group.