Boubyan Bank mulls $200m financing to Oman’s Duqm Refinery

Mubasher: The participation of Boubyan Bank in funding Duqm Refinery in Oman confirms the lender’s ability to finance projects in both public and private sectors in addition to infrastructure projects inside and outside Kuwait, deputy CEO of Boubyan Bank Abdulsalam Al Saleh said in a press release.

Boubyan Bank is expected to allocate $200 million funding that represents nearly quarter of the Islamic financing to the refinery, the deputy CEO added.

On 6 December, the Commercial Bank of Kuwait (CBK) announced that it signed an agreement to finance Oman’s Duqm Refinery in cooperation with a number of local and international financing entities, according to Al Jarida Newspaper. CBK has pledged a $150 million financing, among a bank consortium that has pledged credit facilities valued at $4.6 billion.

Boubyan Bank’s annual income statements of 2018 reflected a growing credit portfolio that reached 12% by the end of the third quarter of 2018, Al Saleh added.

Mubasher Contribution Time: 10-Dec-2018 09:58 (GMT)
Mubasher Last Update Time: 10-Dec-2018 11:15 (GMT)