Sukuk and Islamic Finance

(Photo Credit: Company Website)
20 April 08:44 AM Gulf Navigation nods to sukuk issue
Dubai – Mubasher: Gulf Navigation Holding said its shareholders approved on Wednesday, 19 April, the issue of senior and unsecured sukuk of up to $250 million (AED 918.4 million) through public offering, according to a bourse statement. The sukuk …
(Photo Credit: Arabianeye-Reuters)
18 April 03:16 PM Qatar has no plans to issue sukuk, int’l bonds in 2017 - Official
Doha – Mubasher: Qatar announced on Tuesday that it does not plan to issue sukuk or international bonds during 2017, according to Reuters news agency. Qatar's first domestic bond issue took place in August 2016 with a $3 billion offering, which …
Photo Credit: Arabianeye-Reuters
16 April 11:23 AM BHB discloses Islamic sukuk listing
Mubasher: The Bahrain Bourse (BHB) announced the listing of ten treasury bills and Islamic leasing (ijara) sukuk, according to a bourse statement issued on Sunday. The bills and sukuk were issued by the Central Bank of Bahrain (CBB), effective …
Photo Credit: Arabianeye-Reuters
16 April 09:22 AM Sharjah Cement to pay 8% dividends, issue sukuk
Mubasher: Sharjah Cement and Industrial Development Co’s ordinary general meeting (OGM) on Saturday approved the proposal of distributing an 8% cash dividend of capital for fiscal year 2016. The company, which is listed on both Boursa Kuwait and …
(Photo Credit: Arabianeye-Reuters)
13 April 04:26 PM Global sukuk demand passes $33bn - Saudi MoF
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) said it received strong demand from investors for its first global issue under the sukuk programme. Total subscription orders for the sukuk surpassed $33 billion (SAR 123.75 billion), the …
(Photo Credit: Arabianeye-Reuters)
13 April 10:22 AM Nasdaq Dubai lists $1.25bn IDB sukuk
Dubai – Mubasher: Nasdaq Dubai on Thursday announced welcoming the listing of $1.25 billion sukuk issued by the Saudi-based Islamic Development Bank (IDB). This is IDB’s eighth sukuk listing on the region’s international exchange, making it one of …
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12 April 09:24 PM National Bonds records 75% rise in regular savers
Dubai - Mubasher: National Bonds Corporation announced on Wednesday that its consistent message of encouraging a savings discipline has resulted in a 75% increase in its regular savers in the UAE last year. National Bonds, which is owned by the …
(Photo Credit: Company Website)
11 April 02:34 PM Damac sets final yield for 5-yr sukuk
Dubai – Mubasher: Damac Properties has set the final yield of its planned $500 million five-year sukuk at 6.25% as compared to an initial mid-6% area, CNBC Arabia reported. The real estate developer mandated Bank of Americal Merill Lynch, Emirates …
Photo Credit: Arabianeye-Reuters
11 April 01:17 PM Bahrain Sukuk Al-Ijara oversubscribed
Mubasher: The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al-Ijara, has been oversubscribed by 161%. The sukuk issue was BHD 26 million, yet the subscription received amounted to …
Damac Properties' AYKON City (Photo Credit: Company Website)
11 April 11:49 AM Damac mandates 4 financial institutions for sukuk issue
Dubai – Mubasher: Damac Properties mandated Bank of Americal Merill Lynch, Emirates NBD, HSBC, and FTB Capital to arrange its US dollar-denominated sukuk issue, CNBC Arabia channel reported. The Dubai-listed developer has tightened price guidance …
DIB’s sukuk offering attracted more than $2 billion (Photo Credit:  KFH Capital Press Release)
10 April 02:04 PM KFH Capital participates in DIB & Hong Kong’s sukuk issues
Kuwait – Mubasher: KFH Capital, a fully owned subsidiary of Kuwait Finance House Group (KFH-Group) acted as joint lead manager and book runner for Dubai Islamic Bank’s (DIB) $1 billion benchmark sukuk issue, under DIB's $5 billion Sukuk Programme. …
(Photo Credit: Arabianeye-Reuters)
6 April 10:14 AM Dar Al Arkan issues 4th tranche of sukuk worth SAR 1.88bn
Riyadh - Mubasher: Dar Al Arkan Real Estate Development Company announced the successful closing of the fourth tranche of sukuk issue under its US dollar-denominated Islamic Sukuk Programme worth SAR 1.875 billion ($500 million).  The company …
(Photo Credit: Arabianeye-Reuters)
5 April 12:55 PM Five global banks to market for Saudi sukuk issue
Riyadh – Mubasher: JP Morgan, HSBC, Citibank, and BNP Paribas are on the list of banks participating in the marketing of the Kingdom’s first international sukuk denominated in US dollars, the Saudi Ministry of Finance said. The ministry added that …
A Gulf Navigation vessel (Photo Credit: Company website)
4 April 12:18 PM Gulf Navigation to discuss $250m sukuk issue 19 April
Dubai – Mubasher: Gulf Navigation on Tuesday said its shareholders will convene on Wednesday, 19 April, to discuss the issue of sukuk, as well as several other items on the agenda. Shareholders will consider the issue of senior unsecured sukuk …
(Photo Credit: Arabianeye-Reuters)
3 April 04:47 PM SEC to hold sukuk holders’ assembly meeting on 3 May
Riyadh - Mubasher: Saudi Electricity Company (SEC) invited its sukuk holders to attend their special assembly’s meeting on 3 May 2017. The meeting will discuss the proposed amendments to its SAR 7 billion sukuk’s terms and conditions. Earlier on …
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3 April 11:26 AM Masraf Al Rayan approves dividends, sukuk issue
Doha – Mubasher: The ordinary general meeting (OGM) of Masraf Al Rayan approved the recommendation of distributing 20% of the paid capital as cash dividends for 2016 at QAR 2 per share. Al Rayan’s capital stands at QAR 7.5 billion distributed over …
(Photo Credit: Arabianeye-Reuters)
3 April 09:26 AM SEC repays 1st tranche of sukuk worth SAR 1.88bn
Riyadh - Mubasher: Saudi Electricity Company (SEC) said that it has completed the repayment of SAR 1.88 billion ($500 million) of its first tranche of sukuk. The first tranche was issued on 4 April 2012 in the London Stock Exchange and is due on 3 …
(Photo credit: Arabianeye-Reuters)
2 April 09:57 AM Ezdan 2nd sukuk issuance fully covered
Doha - Mubasher: Ezdan Holding Group on Sunday announced that the second stage of its $500 million Sharia-compliant sukuk issue has been covered. The sukuk offering was "issued at par with a profit rate of 4.875%, representing a spread of 295 bps …
(Photo Credit: Arabianeye-Reuters)
2 April 09:52 AM Dar Al Arkan to hold meetings over sukuk 4th tranche issue
Riyadh - Mubasher: Dar Al Arkan Real-Estate Development Company said that it has updated its Islamic Sukuk Programme. The company noted that it will start meetings with international sukuk investors on Sunday, 2 April. The issue of Islamic sukuk …
Dubai has $52.06 billion worth of listings (Photo Credit: Arabianeye-Reuters)
30 March 12:00 PM Indonesia lists new sukuk on Nasdaq Dubai
Dubai – Mubasher: The Indonesian government listed two sukuk worth $3 billion on Nasdaq Dubai, according to a statement. The listings raised the total nominal value of all sukuk listed in Dubai above $50 billion for the first time, to a global …
(Photo archive)
29 March 04:41 PM SABB intends establishing sukuk programme worth $2bn
Riyadh – Mubasher: Saudi British Bank (SABB) said that it intends to establish a sukuk programme with a total amount not exceeding $2 billion or its equivalent. The programme aims to help the bank strengthen its capital base and support its …
(Photo Credit: Arabianeye-Reuters)
29 March 10:52 AM Aramco prices its debut Islamic sukuk for $2bn
Riyadh – Mubasher: Saudi oil giant “Aramco” set the final pricing for its debut Islamic sukuk, as a part of its plans to raise $10 billion in debt, according to a person quoted by Bloomberg. The news agency reported that Aramco seeks collecting …
(Photo Credit: Company website)
29 March 10:33 AM Alizz Bank issues sukuk worth OMR 30m
Mubasher: The extraordinary general meeting (EGM) of Alizz Islamic Bank approved issuing a perpetual sukuk at OMR 30 million, according to a statement. The tier 1 additional capital will be issued through a rights issue subject to regulatory …
(Photo Credit: Company website)
29 March 09:22 AM Al-Khodari renews 2 Islamic financing agreements worth SAR 625m
Riyadh - Mubasher: Abdullah Abdul Mohsen Al-Khodari Sons Company signed two contracts to renew Islamic credit facilities worth SAR 625 million ($166.7 million) with Alawwal Bank and Gulf International Bank. The first agreement with Alawwal Bank is …
(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 …