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IDB picks banks for $500m sukuk saleIslamic Development Bank, a Jeddah-based multilateral institution, has picked eight banks to arrange a series of meetings with fixed income investors ahead of a potential sukuk issue, said lead managers. The AAA-rated bank will ho More… |
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Al Baraka to raise $200m with sukukAl Baraka Islamic Bank yesterday announced that it was raising $200 million through trust certificates in a Sukuk Al Wakala issue which will mature in 2015. The 18-month sukuk is aimed at raising cash to help increase the bank' More… |
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Global sukuk market to hit $292 billionThe global Sukuk market is expected to grow more than 140 per cent to reach $292 billion in issuances by 2016, said a top official ahead of an upcoming global Islamic funds summit in Bahrain. “The potential size of the Islam More… |
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Qatar Islamic rules out 2013 sukuk issuesQatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, is not expecting to issue more Islamic bonds before 2014, its chief executive said on Wednesday. "I don't think it will be needed; More… |
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Gulf investors dominate Turkish sukuk issuesA $500 million sukuk from Turkiye Finans this week was just the latest in a flood of international debt issues from Turkey. But the identity of the arranging banks, and the investors who bought the issue, pointed to a shift in capital markets. More… |
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Saudi Al Bayan issues first ringgit sukukRiyadh-based Al Bayan Holding became the first Saudi Arabian company to issue an Islamic bond in Malaysian ringgit, paving the way for more corporations from the kingdom to tap into Malaysia's market, the world's biggest for sukuk. More… |
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Saudi sukuk issuance hits $10.5bn in 2012Saudi Arabia issued $10.5 billion in sukuk in 2012, representing a 278 percent year-on-year increase, positioning the kingdom as the second major global issuer of sukuk after Malaysia, according to a new Kuwait Finance House report. More… |
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Dana shareholders approve sukuk restructuringShareholders in Abu Dhabi-listed energy firm Dana Gas approved a plan to restructure its $920 million Islamic bond, the company said. Last October Dana became the first company in the UAE to mis More… |
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Saudi pull-out weakens, doesn't doom IILM sukuk planA surprise pull-out of Saudi Arabia from the International Islamic Liquidity Management Corp (IILM) may have deprived the body of a top credit rating, but its debut sukuk issue still looks set to be welcomed by a wide range of More… |
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Dubai Investments to raise $300m from sukuk saleDubai Investments plans to raise $300 million from the sale of Islamic bonds, or sukuk, investor meetings for which is expected to begin in May, the company's chief executive told Reuters on Wednesday. The conglomerate, which More… |
