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Bahrain's Gulf Air, BisB sign $70m facility  Join our daily free Newsletter

MENAFN - Arab News - 27/08/2009

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(MENAFN - Arab News) Bahrain's national carrier Gulf Air has signed a 70 million facility with Bahrain Islamic Bank (BisB). This four-year medium-term facility will be used to partly finance eight A320 aircraft, which are expected to be delivered in Q4 2009 and Q1 2010 the carrier ordered last year.

"We are glad to have partnered with BIsB, the first Islamic Bank in the country and one of the pioneering Islamic banks in the region," said Talal Al-Zain, chairman of Gulf Air Board of Directors and chief executive of Bahrain Mumtalakat Holding Company.

Mohammed Ebrahim Mohammed, BIsB's CEO, said: "Just like Gulf Air that has a long and established presence in the aviation sector, BIsB has also maintained a prominent presence in the Islamic banking sector by adopting innovative Islamic investment and financing products."

 






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