Warba Bank announced the acquisition of equipment leasing portfolio worth c.USD2 billion, managed by ATEL Capital Group, an independent equipment lessor based in the USA. The acquisition of the portfolio is in line with Warba Bank’s strategy of capturing new Sharia-compliant investment opportunities regionally and internationally and diversifying its asset base. As part of the transaction, the Bank has initially invested USD8.2 million in a diversified portfolio of operating leases comprising low-tech low-obsolescence mission-critical equipment leased to investment grade American companies. ATEL manages over USD2 billion of leased equipment. (Arab Times)