ADIB provides $37mln Islamic financing for Glasgow logistics hub
ADIB provides $37mln Islamic financing for Glasgow logistics hub
Abu Dhabi Islamic Bank (ADIB) has provided a £27 million ($36.5 million) five-year Shariah-compliant financing facility to Bahrain-based investment firm Blacksand Company B.S.C to support the acquisition and financing of a logistics warehouse in Glasgow, Scotland.The transaction marks the third financing arrangement between ADIB and Blacksand.The financing is backed by a 620,090-square-foot warehouse that serves as a regional distribution hub for UK supermarket chain Morrisons.