Abu Dhabi's ADIB arranges $32m facility for Waha unit

Abu Dhabi Islamic Bank (ADIB) on Monday said it arranged a $32 million Ijara facility for a subsidiary of Waha Capital to acquire upto six offshore supply vessels (OSV).

The facility will allow Waha Offshore Marine Services, a subsidiary of Waha Maritime, to expand in the offshore supply vessel sector, a statement from the Islamic lender said.

"This new facility will further facilitate the expansion of our business," Salem Al Noaimi, CEO of Abu Dhabi-listed Waha Capital, said in the statement. Reuters

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