Islamic Finance

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 …
(Photo archive)
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 …
(Photo Credit: Arabianeye-Reuters)
12 February 11:29 AM Warba Bank to promote $250m sukuk this week
Kuwait – Mubasher: Warba Bank will begin promoting its sukuk issuance worth $250 million in several Asian markets this week, Al-Anba newspaper reported. The roadshow will begin in Singapore and Hong Kong then pass through to Dubai and end in …
The sukuk is issued under DIB’s $5 billion (AED 18.36 billion) sukuk programme (Photo Credit: Arabianeye-Reuters)
8 February 04:07 PM DIB issues AED 3.67bn sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) managed to price the $1 billion (AED 3.67 billion) senior sukuk issuance by a financial institution globally. Maturing on 14 February 2022, the sukuk was issued with a 5-year tenor, according to a …
Mohamed Meit deputy finance minister for the public treasury
7 February 01:01 PM Egypt to issue $1m sovereign sukuk next year – Official
By: Mustafa Adel Cairo – Mubasher: Egypt plans to issue sovereign sukuk worth $1 million in the fiscal year 2017-2018, Mohamed Meit deputy finance minister for the public treasury, told Mubasher. “The government planned issue its first sukuk this …
One of DIB's banks (Photo Credit: Arabianeye-Reuters)
2 February 11:19 AM DIB mandates banks for possible sukuk offering
Dubai – Mubasher: Dubai Islamic Bank (DIB) has mandated a number of banks for a possible sukuk issuance, according to a bourse statement. The bank appointed Bank ABC, DIB, Emirates NBD Capital, HSBC, KFH Capital, Maybank Investment Bank Berhad, …
The total listed sukuk in the UAE rose to $47.21 billion (Photo Credit: Bourse Website)
2 February 10:35 AM Investment Corp. of Dubai lists $1bn sukuk on Nasdaq Dubai
Dubai – Mubasher: The Investment Corporation of Dubai (ICD) has listed a $1 billion (AED 3.67 billion) sukuk on Nasdaq Dubai, according to a statement. As a result, the total listed sukuk in the UAE rose to $47.21 billion (AED 173.397 billion). In …
The sukuk was issued by MAF Sukuk Limited on the exchange (Photo Credit: Company Website)
2 February 09:33 AM Majid Al Futtaim to repay $400m sukuk in full
Dubai – Mubasher: Majid Al Futtaim plans to make a full repayment for $400 million trust certificates maturing on 7 February 2017, according to a statement. The sukuk were issued by MAF Sukuk Limited on the exchange. In early October, the company …
(Photo Archive)
1 February 08:51 AM Mobily inks Murabaha facility with 6 Saudi banks
Riyadh – Mubasher: Etihad Etisalat (Mobily) has signed a SAR 7.9 billion Murabaha facility with National Commercial Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Riyad Bank and Al-Rajhi Bank, according to a bourse …
The sukuk is subject to tier 1 for increasing the capital (Photo Credit: Arabianeye-Reuters)
26 January 01:39 PM CMA approves sukuk issuance for Warba Bank
Mubasher: The Capital Markets Authority (CMA) has given approval for Warba Bank’s prospectus for issuing and marketing perpetual sukuk worth $250 million or less inside Kuwait. The sukuk is subject to tier 1 for increasing the capital, based on …
CBB says Sukuk Al-Salam monthly issue 100% subscribed
16 January 02:14 PM CBB says Sukuk Al-Salam monthly issue 100% subscribed
Mubasher: The Central Bank of Bahrain (CBB) said the monthly issue of the Sukuk Al-Salam Islamic securities, Sukuk Al-Salam, has been subscribed by 100%. Subscriptions worth BHD 43 million were received for the BHD 43 million issue, which carries …