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Sun 12 Aug 2012 04:52 PM

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Qatar's Nakilat inks $380m Islamic loan

Qatar Gas Transport Co is the world's largest shipper of liquefied natural gas

Qatar's Nakilat inks $380m Islamic loan

Qatar Gas Transport Co (Nakilat), the world's largest shipper of liquefied natural gas (LNG), signed a $380m murabaha-structured Islamic loan, a statement from one of the banks providing the finance said on Sunday.

Qatar Islamic Bank provided $180m of the facility, the bank said in a bourse filing. Qatar International Islamic Bank provided the remainder of the cash.

No other details of the deal were provided.

A murabaha is a sharia-compliant cost-plus-profit arrangement.

Last month, Nakilat reported a 5.9 percent jump in second-quarter profit partly due to better cost control.

Shares in Nakilat closed up 0.6 percent on Sunday, trimming year-to-date losses to 10.5 percent. Qatar's main index has lost 4.1 percent in 2012.

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