INDONESIA - FINANCE - Mandala Finance gets US$25 million syndicated Islamic loans

JAKARTA: Mandala Finance secured a syndicated loan of US$25 million from four foreign banks, to support sharia-based financing for motorcycle in 2012.

 

The company enjoys the 4-year loan under murabaha contract, from Islamic Corporation for the Development of Private Sector (ICD), The Islamic Corporation for Insurance and Export Credit (ICIEC), Kuwait Finance House Bhd (KFH), and Unit Investment Fund (IUF) of Islamic Development Bank.  (source)

INDONESIA - FINANCE - Mandala Multifinance Obtains $ 25 Million Murabaha Syndicated Loan Credit

JAKARTA - PT Mandala Multifinance Tbk (MFIN) gain in the form of murabaha syndicated loan of U.S. $ 25 million or about Rp214, 225 billion on 14 November 2011.

According to the Corporate Secretary MFIN Mahrus in a statement here on Tuesday, in the form of murabaha facility is derived from several financial institutions. (source)

INDONESIA - FINANCE - ICD to extend $157m of loans in 2012 (PT Sritex and PT Mandala Multifinance)

The Dubai-based Islamic Corporation for the Development of the Private Sector (ICD) says it will distribute US$157 million in sharia loans in 2012, comprising $17 million for three banks and $140 million for military uniform maker PT Sritex.

Director for the ICD’s financial institutions development department, Basel A. Al-Hag Issa, said ICD was still in discussions with some banks, but had yet to decide which banks would receive the $17 million loan. (source)