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Sukuk and Islamic Finance

The issuance will target experienced investors residing in Saudi Arabia
6 July 10:25 AM SABB announces 1st local Sukuk issuance
Riyadh -Mubasher: The Saudi British Bank (SABB) announced on Monday the first offering of Tier II SAR denominated Sukuk for private placement under its newly-established local Sukuk programme. The issuance size shall be determined as per market …
The offering aims to meet SABB’s financial and strategic needs
5 July 10:42 AM SABB sets up local Sukuk programme
Riyadh -Mubasher: The Saudi British Bank (SABB) intends to update and amend its previously established international Sukuk programme and set up a local Sukuk programme. Through the two Sukuk programmes, SABB will issue and offer senior …
The Sukuk programme is valued at a maximum KWD 2 billion
2 July 01:01 PM KIB obtains central bank’s initial approval for Sukuk issuance
Mubasher: Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme. The value of the issuance is up to KWD 2 billion, or the equivalent in other currencies. …
Indonesia is the largest Sukuk issuer on Nasdaq Dubai
1 July 01:38 PM Indonesia lists $2.5bn Sukuk on Nasdaq Dubai
Dubai - Mubasher: Nasdaq Dubai has welcomed Indonesia's listing of three Sukuk at a total value of $2.5 billion, oversubscribed 6.7 times by investors including international investors from Asian and Middle East countries. Aiming to fund economic …
The issuance was a tap on a $1 billion Sukuk
30 June 12:51 PM DIB lists $300m Sukuk on Nasdaq Dubai
Dubai - Mubasher: Nasdaq Dubai has welcomed Dubai Islamic Bank's (DIB) listing of $300 million Sukuk, aiming to support the bank's customers amid the challenging market conditions. The issuance was a tap on a $1 billion Sukuk listed by the bank on …
The Sukuk is the first ever AAA-rated sustainability Sukuk
28 June 02:37 PM IsDB lists $1.5bn Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the $1.5 billion Sukuk listing of the Islamic Development Bank (IsDB), according to a press release on Sunday. The IsDB seeks to raise funds to supports the coronavirus (COVID-19) relief initiatives, …
DP World is expected to sell perpetual Sukuk at 6.125%
25 June 10:11 AM DP World forecast to sell $1.5bn perpetual Sukuk
Dubai - Mubasher: DP World is expected to sell perpetual Sukuk of $1.5 billion at 6.125%, Reuters reported, citing a document published on Wednesday, 24 June. DP World has set the price guidance after it began marketing the Sukuk, which …
The five-year Sukuk has attracted 150 investors
24 June 12:01 PM Sharjah Islamic Banks lists $500m Sukuk on Nasdaq Dubai
Abu Dhabi – Mubasher: Nasdaq Dubai has welcomed Sharjah Islamic Bank's listing of a $500 million Sukuk to support its activities and strategic development. Oversubscribed 7.2 times, the five-year Sukuk has attracted 150 regional and international …
The bank has set a margin of return at 240 bps
24 June 09:42 AM DIB sells $300m in 2026 Sukuk tap
Dubai - Mubasher: Dubai Islamic Bank (DIB) has sold $300 million in the reopening of its existing Sukuk issuance due in 2026, according to Reuters. The bank has set a margin of return at 240 basis points (bps) over midswaps for the reopening of …
The bank has tightened the price guidance for the notes
23 June 01:24 PM DIB likely to sell $200m worth of its Sukuk
Dubai - Mubasher: Dubai Islamic Bank (DIB) is forecast to sell an instrument of over $200 million of its existing Sukuk issuance due in 2026, Reuters reported on Tuesday. The bank has tightened the price guidance for the notes at 240-245 basis …
A sum of SAR 138.7 million was distributed
22 June 10:59 AM Arabian Aramco Total Services partially redeems sukuk
Riyadh - Mubasher: Arabian Aramco Total Services Company (AATSC), a subsidiary of Saudi Aramco Total Refining and Petrochemical Company (SATORP), on Monday announced the partial redemption of its semi-annually scheduled Sukuk. A sum of SAR 138.7 …
Emirates NBD's investment banking arm was the joint lead manager
21 June 04:16 PM IsDB issues first sustainability $1.5b Sukuk - Emirates NBD Capital
Dubai - Mubasher: Emirates NBD Capital has closed the first US dollar sustainability Sukuk of the Islamic Development Bank (IsDB) at a total value of $1.5 billion. Emirates NBD's investment banking arm was the joint lead manager and bookrunner for …
The Sukuk issuance will be used to enhance the bank's liquidity
18 June 11:41 AM SIB's $500m Sukuk oversubscribed 7.2 times
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) successfully issued five-year Sukuk worth $500 million (AED 1.83 billion), which was 7.2 times oversubscribed, according to the Emirates News Agency (WAM). The Sukuk saw strong demand from local and …
DIB is the leading UAE-based Sukuk issuer
16 June 10:20 AM Nasdaq Dubai lists DIB's $1bn Sukuk
UAE - Mubasher: Nasdaq Dubai has welcomed Dubai Islamic Bank's (DIB) $1 billion Sukuk listing, according to a press release on Tuesday. Aiming to reinforce the DIB's measures to support customers and companies amid the challenging market …
The Sukuk matured on 11 June 2020
14 June 11:33 AM Najran Cement redeems SAR 355m Sukuk
Riyadh – Mubasher: Najran Cement Company on Sunday announced that it has fully paid off the existing Sukuk worth SAR 355 million. The payment process was financed via a SAR 355 million Sharia-compliant loan from Bank AlJazira that was received on …
Islamic economy contributed 9.9% of the emirate's economy in 2018
14 June 09:52 AM Islamic economy contributes AED 41.8bn to Dubai's GDP
UAE - Mubasher: The Islamic economy's contribution to Dubai's gross domestic product (GDP) grew by 2.2% to AED 41.8 billion in 2018, compared to AED 40.95 billion in 2017, Dubai media office reported, citing the latest figures by the Dubai …
SIB has a lending relationship with the hired banks
11 June 09:35 AM Sharjah Islamic Bank appoints banks to sell $500m Sukuk
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) has hired banks to sell benchmark US dollar-denominated Sukuk, which would be valued at $500 million, sources reportedly told Reuters. The $500-million projected size of the issuance could increase …
The group has listed $300 million Sukuk in February
10 June 11:44 AM Nasdaq Dubai lists GFH's $200m Sukuk
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of $200 million Sukuk issued by GFH Financial Group (GFH), according to a press release on Wednesday. The group will benefit from its second Sukuk listing on Nasdaq Dubai to strengthen its …
The five-year credit facility amounts to SAR 355 million
8 June 06:40 PM Najran Cement receives SAR 335m loan
Riyadh – Mubasher: Najran Cement Company announced on Monday that it has received the full amount of a SAR 355 million Sharia-compliant credit facility from Bank AlJazira. The five-year credit facility agreement includes a promissory note, in …
The bank has set the minimum subscription at SAR 10 million
4 June 10:34 AM NCB launches SAR-denominated Tier 1 Sukuk
Riyadh – Mubasher: The National Commercial Bank (NCB) announced on Thursday the commencement of its perpetual private placement offer of additional Tier 1 Sukuk, subject to market conditions. The issuance target group of the SAR-denominated Sukuk …
Sharjah has issued AED 4 billion Sukuk
2 June 04:00 PM Sharjah pumps AED 4bn liquidity to support banking system
UAE - Mubasher: Sharjah Finance Department (SFD) has issued AED 4 billion Sukuk to enable the emirate's banks to provide financial support to the sectors impacted by coronavirus (COVID-19). The 12-month AED-dominated Sukuk, representing the first …
HSBC was hired as global coordinator for the transaction
2 June 03:18 PM Sharjah launches new dollar-dominated Sukuk
UAE - Mubasher: Sharjah began on Tuesday marketing seven-year US dollar-dominated Sukuk, Reuters reported citing a document from one of the banks arranging the deal. Sharjah has set an initial indicative price of about 275 basis points over the …
The issuance is part of a Sukuk programme at a maximum value of $2 billion
27 May 03:56 PM Warba Bank receives regulatory approval for KWD 150m Sukuk
Mubasher: Warba Bank has received approval from the Central Bank of Kuwait and the Capital Markets Authority (CMA) for the second issuance of Sukuk at a value not exceeding KWD 150 million. The issuance is part of a Sukuk programme at a maximum …
The outlook on all ratings was changed to ratings under review
26 May 04:48 PM Moody’s downgrades Arabian Centres ratings
Riyadh – Mubasher: Moody’s Investors Service has downgraded Arabian Centres Company's (ACC) corporate family rating (CFR) to ‘Ba2’ from ‘Ba1’. The rating on the $500 million Sukuk, which was issued by Arabian Centres Sukuk Limited and due in 2024, …