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Sukuk and Islamic Finance

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21 July 04:52 PM GCC fixed income markets see $75.5bn issuances in H1-24 – Report
Mubasher: Primary debt issuances of bonds and sukuk in the Gulf Cooperation Council (GCC) countries surged to $75.50 billion in the first half (H1) of 2024, marking a 38% year-on-year (YoY) increase from $54.80 billion. Saudi Arabia led the GCC …
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18 July 05:35 PM ADCB achieves AED 5bn net profit before tax in H1-24
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) reported net profits before tax worth AED 5.02 billion in the first half (H1) of 2024, signalling a 28% annual increase from AED 3.92 billion. In addition, the net profits after tax of ADCB …
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18 July 04:03 PM Binghatti sukuk tap 420% oversubscribed on strong global demand
UAE – Mubasher: Dubai developer Binghatti saw record interest for its recent $200 million sukuk tap, receiving around $2.10 billion in orders. That represented an oversubscription of approximately 420% backed by global investors, according to a …
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14 July 12:16 PM UK’s fintech firm Offa launches Islamic BTL service for expats in region
Mubasher: Offa, the first Shari’a-aligned bridge finance fintech based in the UK, unveiled a buy-to-let finance (BTL) service to offer fast funding decisions by carrying out a modern paperless process, according to a press release. The new Islamic …
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11 July 03:41 PM Islamic Development Bank finances solar, battery projects in Uzbekistan
Riyadh – Mubasher: The Islamic Development Bank (IsDB) is providing financing for 200 megawatts (MW) solar farm and 500 MW battery storage projects in Uzbekistan's Tashkent region. The historic renewable energy venture, sponsored by Saudi firm …
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11 July 09:55 AM Nasdaq Dubai unveils $2.3bn new Sukuk issuances by Indonesia
UAE – Mubasher: Nasdaq Dubai welcomed three Sukuk issued by Indonesia at a combined value of $2.35 billion, under its $35 billion Trust Certificate Issuance Programme. The new listings reinforce Dubai's position as the world's leading centre for …
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10 July 07:16 PM 2P Prefect Presentation pens SAR 121m facility agreement with Riyad Bank
Riyadh – Mubasher: Prefect presentation for commercial services Company (2P Prefect Presentation) has signed a Sharia-aligned increase facility agreement with Riyad Bank on 10 July 2024. The facility agreement holds a value of SAR 121 million …
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3 July 10:57 AM ADIB provides AED 5.5bn sustainable finance in 2023
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) sustainable finance reached AED 5.56 billion in 2023, including the issuance of the world's largest green sukuk by a bank, raising $500 million. ADIB has set net-zero targets for Scope 1 and …
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2 July 12:39 PM Arada Developments lists $400m Sukuk on Nasdaq Dubai
UAE – Mubasher: Nasdaq Dubai has announced the listing of a $400 million Sukuk by Arada Developments, a UAE-based master developer. This is Arada's second listing on Nasdaq Dubai and the first under their new $1 billion Sukuk programme, according …
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30 June 12:19 PM Saudi sukuk, debt market hits 18.3% of GDP in 2023 – Report
Riyadh – Mubasher: The Saudi sukuk and debt instruments market reached 18.30% of GDP by the end of 2023, with 70 sukuk and debt instruments listed on the capital market. The funds raised from sukuk and debt instrument offerings amounted to SAR …