Banque Misr to receive USD 50 mn Sharia-compliant facility from GCC lenders

Banque Misr reached an agreement with the Abu Dhabi Islamic Bank (ADIB) to arrange a USD 50 mn syndicated loan from a number of GCC lenders, Banque Misr’s Vice Chairman Akef El Maghraby told Al Borsa. Banque Misr was initially seeking USD 150 mn, but settled on a third of that amount following negotiations with ADIB.