VOL. XXXVI
NO. 7
16-NOVEMBER-1992
Financial and Banking News
REGIONAL FINANCING
Al-Rajhi Finances Emirates Aircraft Purchase
Riyadh-based Al-Rajhi bank is to finance the purchase of another A310-300aircraft by Dubai-based Emirates Airlines. Chase Manhattan Bank assistedEmirates and Al-Rajhi to structure the deal, which is said to be the first everIslamic lease agreement for a new aircraft. The tenor is believed to be aboutseven years and the value about $60mn. Emirates now has seven A310-300s. Five...
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