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Monday, 4 February 2008

ABC's Islamic Finance unit say it could arrange 5 billion USD worth of Islamic bonds and loans in 2008



Feb. 4 - Arab Banking may arrange $5 bln of Islamic debt.

The head of Bahrain's Arab Banking Corporation's Islamic Finance unit say it could arrange as much as 5 billion USD worth of Islamic bonds and loans in 2008 if the credit crunch that plagued the industry in 2007 subsides.

Duncan Smith, speaking at the Reuters Islamic Banking and Finance Summit in Manama on Monday, says he would be "very disappointed" if the bank did not do at least $1 billion in deals.

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