Dubai: Dubai Islamic Bank has closed a Dh1.83 billion ($500 million) Ijara facility to finance the upgradation of the Jebel Ali refinery of the Enoc Processing Company Ltd, a wholly-owned subsidiary of Emirates National Oil Company. DIB was granted the mandate to lead and arrange the Islamic financing which was also underwritten by DIB. In addition to the responsibility of initial mandated lead arranger and underwriter, DIB...
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