ABC And Vitol Sign $80Mn Murabaha Oil Product Purchase Agreement
Switzerlands Vitol and ABCIB Islamic Asset Management (which is based in London but is part of Bahrains Arab Banking Corporation - ABC) have signed an $80mn Murabaha agreement for the purchase of refined oil products such as jet fuel from refinery suppliers. The facility, which is the first Islamic financing to be arranged for Vitol, one of the worlds largest physical oil traders,...
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