Mumtalakat Holdings Inks 250 Million Loan
The sovereign wealth fund of Bahrain, Mumtalakat Holdings, inked a US$ 250 million loan. The loan is to assist in refinancing a portion of a bigger five-year facility. According to a statement by Mumtalakat’s CEO, Mahmood Al Kooheji, the loans play a major role in the sovereign wealth fund’s financing and funding strategy.
The five banks that funded the loan include National Bank of Bahrain, Gulf International Bank, Arab Bank (Jordan) and Mashreq (Dubai).
In June 2006, Mumtalakat Holdings was created by the government through a royal decree.
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