ADIB provides US$80 million (AED 293.86 million) Sharia’a-compliant financing to Oman Shipping Company
- Oman Shipping Company (OSC)’s USD 80 million Sharia based leasing facility “Ijarah” with ADIB is the first of its kind in the company’s history
- The facility will allow OSC to enhance its debt position by reducing overall financing costs and eliminating refinancing risk, all while continuing to diversify its pool of financial partners.
Abu Dhabi, 5 January 2020: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has signed an agreement to provide a US$80 million Shariah-compliant Ijara facility to Oman Shipping Company SAOC (OSC), a member of the ASYAD Group, for the financing of two VLCC (Very Large Crude Carriers) tankers within the OSC group.
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