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Article: Trowers & Hamlins advise Islamic investment bank on investment in Bahraini retail construction project
- Article from:
- Al Bawaba
- Article date:
- July 19, 2009
CopyrightCopyright 2009 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
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Trowers & Hamlins, the International law firm, has advised
Capinnova Investment Bank, the Bahrain-based Islamic investment
bank, on a $20million investment in a brand new retail construction
project in Bahrain.
Capinnova Investment Bank is the Shari'a compliant arm of BBK
(formerly known as Bank of Bahrain and Kuwait) and their investment
has been structured according to Islamic principles, on the basis of
istisna'a (construction finance) and an ijara forward lease.
Construction on what will be the largest commercial shopping mall
in Bahrain's historic Muharraq area is due for completion mid-way
through 2010.
Neale Downes, Partner at Trowers & Hamlins in Bahrain, comments:
"It's clear the ...