| Islamic Finance Awards |
ACWA Power Projects
The ACWA Power Projects financed by Al Rajhi Bank are the best example of the latest trends.
These projects have grabbed headlines through their innovative application of Shariah principles. Three projects – Shuqaiq IWPP, Marafiq (Jubail) IWPP and Shuaibah Expansion IWP – which closed before December 2007, used an original forward leasing structure called Ijarah Mawsufa Fi Al Dhimmah for the Islamic tranches, which accounted for between 10% and 46% of the deals.
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