Sukuk and Islamic Finance

(Photo Credit: Arabianeye-Reuters)
26 March 09:58 AM SEC to raise Murabaha Finance to SAR 8bn
Riyadh - Mubasher: The board of Saudi Electricity Company (SEC) has signed on Sunday the amendment to a joint Local Murabaha Finance structure. The financing is worth SAR 5 billion ($1.33 billion) and lasts for seven years. The amendment …
(Photo Credit: Facebook)
22 March 09:31 AM Ezdan Holding picks banks for sukuk issue
Doha – Mubasher: Ezdan Holding Group mandated a number of global and UAE banks to arrange a sukuk issue, according to a bourse statement. The company chose HSBC and Mashreq Bank as joint global coordinators, and Dubai Islamic Bank (DIB), Emirates …
Photo Credit: Arabianeye-Reuters
21 March 06:47 PM Saudi Aramco to issue $2bn sukuk before awaited IPO
Riyadh - Mubasher: Saudi Aramco is seeking to raise about $2 billion in its debut bond sale, sources told Bloomberg on Tuesday. The company will sell SAR Islamic bonds (sukuk) in the second quarter of 2017, according to Bloomberg, which indicated …
Central Bank of Bahrain - (Photo Credit: Arabianeye-Reuters)
20 March 04:52 PM CBB Islamic sukuk subscribed by 169%
Mubasher: The Central Bank of Bahrain’s (CBB) monthly issue of governmental short-term Al-Salam Islamic Sukuk worth BHD 43 million was subscribed by 169%. The issue starts on 22 March and ends on 21 June, the CBB added in statement on behalf of …
Photo Credit: Arabianeye-Reuters
20 March 11:30 AM Warba Bank rings Nasdaq Dubai bell for sukuk listing
Mubasher: Warba Bank started the listing of a $250 million worth Perpetual Tier 1 Basel III-compliant Capital Sukuk on Nasdaq Dubai, according to a statement issued on Monday. The bank’s chief executive Shaheen Al-Ghanem on Monday rang the …
Photo Credit: Arabianeye-Reuters
18 March 09:00 PM Al Ahli Bank to issue $500m sukuk
Kuwait - Mubasher: Al Ahli Bank of Kuwait (ABK) announced on Saturday that it will issue bonds worth $500 million in the upcoming weeks, according to its chairman Talal Bahbahani. The bonds will be issued to fund development enterprises in which …
The bank collected around $1.3 billion - (Photo Credit: Press Release)
18 March 02:48 PM Warba Bank issues $250m mudaraba sukuk
Kuwait - Mubasher:  Warba Bank announced the successful issuance of their $250 million Mudaraba Sukuk Certificates, according to a joint press release. The callable $250 million perpetual sukuk was issued at a coupon rate of 6.50% with the first …
(Photo Credit: Arabianeye-Reuters)
15 March 10:23 AM SEC to discuss purchase date extension of SAR sukuk
Riyadh – Mubasher: Saudi Electricity Co (SEC) said that it is willing to hold discussions with interested sukukholders to extend the purchase date of its SAR sukuk expiring in 2030 (Sukuk III, listed in the Saudi Stock Exchange). Any such …
(Photo Credit: Mubasher's Photo Archive)
14 March 04:53 PM Kuwait aims to cover budget deficit with $8bn int’l bonds – Agency
Mubasher: Kuwait is set to offer 5- and 10-year international bonds worth $8 billion to cover its expected budget deficit of KWD 9.7 billion, news agency Bloomberg reported. The 5-year bonds are worth $3.5 billion, while the 10-year bonds stand at …
One of Damac's projects (Photo Credit: Company Website)
14 March 10:02 AM Damac mandates banks for US dollar debts – Agency
Dubai – Mubasher: Damac Properties has mandated banks for the sale of a US dollar-denominated debt, Reuters reported on Monday. The company has a $100 million sukuk issue maturing on 21 March and a $650 million sukuk issue maturing in 2019, the …
(Photo Credit: Company website)
13 March 04:44 PM Alandalus signs SAR 40m credit facility with Saudi Investment
Riyadh – Mubasher: Alandalus Property Company announced on Monday that it signed a Sharia-compliant credit facility agreement with the Saudi Investment Bank The SAR 40 million financing will be paid over nine months starting from the date of using …
Photo Credit: Arabianeye-Reuters
9 March 10:59 AM Warba Bank issues $250m Tier 1 sukuk
Mubasher: Warba Bank has announced the sukuk issue of $250 million Tier 1 Mudaraba capital certificates, of which the promoting campaign was set in the international market, according to a bourse statement issued on Thursday. With a coupon rate of …
(Photo Credit: Arabianeye-Reuters)
8 March 12:43 PM KSA mulls sale of Islamic sukuk to local institutions in 2017 – Bloomberg
Riyadh – Mubasher:  Saudi Arabia is considering a sale of SAR-denominated sukuk to local institutions this year to help boost the local Islamic bond market, Bloomberg reported on Wednesday, citing three unnamed sources. Apart from being the …
One of ADIB's branches (Photo credit: Arabianeye - Reuters)
7 March 09:40 AM ADIB denies USD sukuk issue
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) denied its intention to issue USD sukuk in the coming few months, according to a bourse statement. The bank clarified in an official statement to Reuters that there are no immediate plans for any …
Saudi German Hospital building (Photo Credit: Company website)
5 March 10:28 AM Saudi German Hospital, NCB ink SAR 100m loan deal
Riyadh – Mubasher: Middle East Healthcare Co, known as the Saudi German Hospital (SGH), on Sunday announced signing an Islamic commercial financing agreement with the National Commercial Bank (NCB) worth SAR 100 million ($26.7 million). The deal …
(Photo Credit: Nasdaq Dubai's Twitter account)
2 March 09:24 AM Hong Kong gov’t lists sukuk on Nasdaq Dubai
Mubasher: The government of Hong Kong listed $1 billion sukuk on Nasdaq Dubai on 1 March, according to a bourse statement. As a result, the value of the government’s sukuk listings on the exchange totalled $3 billion. The government has made two …
The listing was carried out under DIB’s $5 billion sukuk programme (Photo Credit: Press Release)
1 March 12:26 PM Nasdaq Dubai, DIB ring bell on sukuk listing
Dubai – Mubasher: Dubai Islamic Bank (DIB) listed $1 billion sukuk on Nasdaq Dubai, according to a statement. The listing was made under DIB’s $5 billion sukuk programme, bringing the total value of the bank’s sukuk listings on the bourse to $4.25 …
Warba’s sukuk issuance will boost the bank’s capital baseline (Photo Credit: Press release)
28 February 10:47 AM Warba Bank to issue sukuk in Asia, Europe
Mubasher: Warba Bank signed an agreement with a consortium of international consultants to coordinate a series of marketing meetings for issuing sukuk on behalf of Warba, according to a bourse statement issued on Tuesday. Following the meetings, …
Sharjah targets to achieve a balanced budget without deficit (Photo Archive)
26 February 08:47 AM Sharjah not to issue new sukuk in 2017
Abu Dhabi – Mubasher: Sharjah does not plan to issue new sukuk this year, Al Khaleej quoted Waleed Al Sayegh, the director general of the Central Department of Finance in Sharjah. Current financial resources are sufficient to cover the emirate’s …
Photo Credit: Press Release
25 February 03:13 PM Nasdaq Dubai sees AFC $150m sukuk deal
Dubai - Mubasher: Africa Finance Corporation (AFC) has carried out an Islamic financing transaction on the Murabaha platform of Nasdaq Dubai, with a total value of $150-million. According to a statement issued Saturday, the transaction’s initial …
One of DIB's branches (Photo Credit: Arabianeye-Reuters)
23 February 09:04 AM DIB shareholders approve sukuk issuance
Dubai – Mubasher: Dubai Islamic Bank’s (DIB) shareholders authorised the board on Wednesday, 22 Fenruary, to issue any senior or subordinated sukuk, or any other similar non-convertible instruments up to AED 18.363 billion ($5 billion), according …
The expected return on the issuance is 2.23 % (Photo Credit: Arabianeye-Reuters)
20 February 05:13 PM Sukuk Al-Salam securities fully subscribed
Mubasher: The Central Bank of Bahrain (CBB) said that the monthly issuance of Sukuk Al-Salam Islamic securities, Sukuk Al-Salam, has been subscribed by 100%, according to a recent statement. Subscriptions worth BHD 43 million were received for the …
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20 February 08:44 AM MEPCO renews SAR 115m credit facility with SABB
Riyadh – Mubasher: Middle East Paper Co. (MEPCO) renewed a Sharia-compliant credit facility worth SAR 115 million with the Saudi British Bank (SABB). The financing period extends from 19 February 2017 until 30 February 2018, according to a bourse …
A previous general meeting of QInvest (Photo credit: Company website)
19 February 12:42 PM QInvest exits Sharia-compliant fund
Mubasher: QInvest exited the Sharia-compliant St. Edmund’s Terrace LP Fund, according to a statement. The fund, which was owned by QInvest and a range of GCC institutional and retail investors, invested GBP 50 million into developing a new …
A Dubai Islamic Bank branch in the UAE (Photo Credit: Arabianeye-Reuters)
15 February 11:19 AM DIB lists new $1bn sukuk on Nasdaq Dubai
Dubai – Mubasher: Nasdaq Dubai on Wednesday welcomed the listing of a $1 billion USD-denominated sukuk by Dubai Islamic Bank (DIB) on the region’s international exchange. This listing brings the UAE’s largest Islamic bank’s current sukuk listing …