Financial and Banking News
ANZ Arranges $105mn for Pakistani Oil Imports
London-based ANZ Merchant Bank, part of ANZ Grindlays Bank, has arranged a$105mn six-month Murabahah (Islamic trade finance) facility to finance oilimports for the Pakistan State Oil Company and Pakistan Burmah Shell. The moneyis being provided by four Islamic banks, and is being guaranteed by fourconventional banks. The financiers are al-Rajhi Banking and InvestmentCorporation,...