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Gulf Energy Maritime signs $75 million deal with Dubai Islamic Bank

Jun 18, 2017 - CPI Financial

Gulf Energy Maritime (GEM) has signed a $75 million agreement with Dubai Islamic Bank (DIB), the first time GEM has raised funding of this kind through Islamic finance.

The seven-year facility is the first deal between GEM and DIB, and it is part of a long-term relationship with the bank, according to Ahmed Essa Hareb Al Falahi, CEO, GEM.

“Providing custom-made services will assist the company to meet objectives to provide safe, high quality and economical operation of vessels and...