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Bahrain’s Ithmaar Jumps Most in Month After Raising $167 Million

Dec. 28 (Bloomberg) -- Ithmaar Bank BSC, the retail-focused Islamic bank based in Bahrain, advanced the most in more than a month after it received a $167 million Shariah-compliant loan.

The shares gained 4.2 percent, the biggest intraday increase since Nov. 21, to 12.5 cents at 12:10 p.m. in Manama. Ithmaar has declined 48 percent this year.

The bank raised the Islamic murabaha loan from Bahrain’s Ahli United Bank BSC. Ahli United Bank was unchanged at 72 cents.

To contact the reporter on this story: Dana El Baltaji in Dubai delbaltaji@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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