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Capital Markets

BTMU provides $353m Islamic loan to Malaysian Saudi Telecom unit

Major Japanese lender looks to grow Islamic finance ops in the country

BTMU aims to expand operations in Malaysia through Islamic finance.   © Reuters

TOKYO -- The Bank of Tokyo-Mitsubishi UFJ has provided an Islamic syndicated loan to a Malaysian affiliate of Saudi Arabia's state-owned telecom company, Saudi Telecom. The ringgit-based loan amount is about 41.7 billion yen ($353 million).

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