ALBANIA - FINANCE - PM Berisha welcomes participants in International Conference on Foreign Investments in Albania

www.emg.rs -The Conference is organized by the Albanian Investment Development Agency (AIDA) in cooperation with Islamic Development Bank- IDB.

Prime Minister Sali Berisha hosted a welcome reception today evening at the venues of the Palace of Brigades for the participants in the International Conference on Foreign Investments in Albania that holds its proceedings in Tirana.
The Conference is organized by the Albanian Investment Development Agency (AIDA) in cooperation with Islamic Development Bank- IDB.  (source)

GERMANY - Albaraka Turk enters Iraq - plans for Germany, Albania, Kosovo and Bosnia in the medium term

www.hurriyetdailynews.com - Albaraka Türk has become the first Turkish participation bank to open a branch in the city of Arbil in northern Iraq. The bank also plans to branch out to Qatar, Bahrain and Dubai in the near term and Europe, specifically Germany, Albania, Bosnia and Kosovo, in the medium term. “We are in Iraq to increase the presence of Turkish firms in the region, to support the development of the region and to modernize the Middle East,” Albaraka Türk’s general manager, Fahrettin Yahşi, told daily Hürriyet. Yahşi said Arbil was the most developed region in Iraq and on the brink of a re-birth, adding that Albaraka Türk was there to help the city reach its target of becoming a future Dubai. (source)

TURKEY - BANKING - Bank Asya press conference

www.bankasya.com.tr - Bank Asya board member and general manager Mr. Abdullah CELİK held a press conference on 08.02.2012 and the main topics are listed below:

• Bank Asya continues ongoing negotiations with buyers regarding the sale of its Isik Sigorta (Insurance Subsidiary) shares. Depending on the offers, Bank Asya may sell entire of its shares. (source)

ALBANIA - FINANCE - ICD poised to boost activity with SR1 billion SME fund - Ijara / Leasing company for Albania in the pipeline

In the wake of the impact of the continuing global financial crisis, the euro zone debt crisis and the so-called Arab Spring - and their economic impact on global and regional markets including member countries of the Islamic Development Bank (IDB), the Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD), the private sector funding arm of the IDB Group, is embarking on a new strategy to take its financing directly to its constituencies and to make its financing impact more on the real economy through the generation of employment and promoting growth. This includes opening regional offices; setting up two new departments at the ICD; launching more Ijara (leasing companies) in diverse markets such as Albania, Saudi Arabia and Algeria; establishing SME investment funds including a SR1 billion fund for Saudi Arabia; and establishing a mortgage finance company in Saudi Arabia in anticipation of the long-awaited mortgage law. (source)

ALBANIA - Saudi Arabia and Albania signs 25 Million USD loan agreement

Tirana, 25 June 2011 (albanianeconomy.com) Saudi Arabia fund for development had accepted to lend 25 million USD to the Government of Albania for the construction of a highway, the Ministry of Finance announced on Friday.

“The loan approval has been announced officially by Saudi ambassador in Albania Abdullah Abdulaziz AL-ABDULKARIM. The new loan will have 2 per cent interest rate and 25 years maturity where the first five years will be grace period,” the Ministry said in a press release. (source)

BANKING - Albaraka Turk Seeks Partnerships in Albania, Bosnia, Star Says

Albaraka Turk Katilim Bankasi AS, an Islamic bank based in Turkey, is in talks with two banks to set up strategic partnerships in Albania and Bosnia-Herzegovina, Star newspaper reported, citing Albaraka Turk Chairman Fahrettin Yahsi.(full story)

ALBANIA - Albania gets $223 million loan from Islamic bank

MSN News - The Islamic Development Bank has granted a $222.7 million (156 million euros) loan to Albania for building a road linking the capital with the southern town of Elbasan, the finance ministry said Thursday. (full story)

ALBANIA - TURKEY - IDB Gives $511 Mln in Loans, Grants for Member States’ Projects

Islamic Development Bank said that its board of executive directors approved today about $511 million in loans and grants for several projects in member countries.

The Jeddah-based multilateral lender, known as IDB, said the approved projects include $222 million to build a road in Albania, $108 million to schools development program in Turkey, and $95 million for the construction of grain steel silos in Pakistan.   (full story)

ALBANIA: Islamic Bank finances Tirana-Elbasan highway

(ANSAmed) - ROME, FEBRUARY 17 - The Islamic Bank will finance the construction of a 31.7 km section of the new Tirana - Elbasan highway which includes a 4.2 km tunnel.

The Islamic Bank will provide a loan worth approximately 350 million dollars, which according to the preliminary agreement will last for 20 years. Interest on the loan will not exceed 5%. (source)