SriLankan Airlines raises US$175mn from Islamic loan

Sri Lankan Police forming a human chain in parliament to protect the Speaker and enable a vote.

June 19, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said. Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines to the equivalent of 175 million US dollars.

The funding is the largest known Islamic financing raised by a Sri Lanka based entity.