Dar Al Arkan Real Estate Development Company, Saudi Arabia's largest listed developer, plans to spend over SR1 billion ($267 million) on projects in 2015 and aims for 10 per cent growth of its business in the year, its chairman said.
Low-cost airline Flydubai has mandated Credit Agricole CIB, Dubai Islamic Bank, Emirates NBD, HSBC, National Bank of Abu Dhabi, Noor Bank and Standard Chartered to arrange a potential debut sukuk issue, according to two sources.
Malaysia's Bank Islam, wholly-owned by BIMB Holdings, has set up a one billion ringgit ($307 million) subordinated Islamic bond programme, the latest Asian bank to use the structure to boost regulatory capital.
With Basel III
Abu Dhabi-based telecoms firm Emirates Telecommunications Corporation (Etisalat) is planning its first sukuk issuance in a follow-up to its debut conventional bond earlier this year, a report said.
The firm, rated Aa3/AA-/A+, is i
Oman's central bank has set up a sharia supervisory board to help oversee the sultanate's Islamic banking industry, a centralised model that is increasingly being adopted across the global industry but remains a rarity in the Gulf.
Bahrain's stock exchange plans to launch a range of Islamic investment products, including a novel equity-based murabaha financing tool and Islamic real estate investment trusts (REITs), its chief executive told Reuters.
The Pakistani unit of Bahrain's Al Baraka Banking Group has raised two billion rupees ($19.5 million) via the country's first issuance of subordinated sukuk, or Islamic bonds, a bank official said.
With Basel III global ba
A gathering of Islamic finance practitioners discussed the future trends in sukuk and Islamic project and infrastructure finance, at the inaugural IFN Global Forum 2014 held recently in Dubai, UAE.
The gathering was addressed by D
QInvest, Qatar’s leading investment bank, is seeing strong volumes in global sukuk activity and expects 2014 issuance to be greater than last year, said a top official.
“With competitive pricing, product innovation and
DIFC Investments, the investment arm of the company running Dubai's financial free zone, is seeking to raise as much as $700 million by issuing a sukuk to help repay existing debt and fund real estate development, its top executive said on S