Middle East Economic Survey

VOL. XLVII

No 45

8-November-2004

BAHRAIN

REGIONAL BANKING

First Islamic Announces $300Mn Residential Joint Venture With BIGCC

First Islamic Investment Bank has undertaken the equity investment in a $300mn project initiated by Bahrain International Golf Course Company (BIGCC) to develop a themed residential community around the Riffa Golf Course in Bahrain, the bank announced on 1 November. The Islamic structured financing facility is fully underwritten by HSBC, although...