Sukuk and Islamic Finance

Al Manar Financing and Leasing Co. was founded in Kuwait in 2003
12 February 10:18 AM Al Manar Financing starts trading on Boursa Kuwait Tuesday
Mubasher: Trading on the stock of Al Manar Financing and Leasing Co. has started on Tuesday, 12 February. Al Manar will be listed in the financial services segment in the Main Market of Boursa Kuwait, according to a bourse disclosure on Tuesday. …
The treasury sector is considered the core hub of KFH
11 February 01:56 PM KFH transactions in sukuk market total $11bn in FY18
Mubasher: Kuwait Finance House (KFH) has registered $10.68 billion worth trading activity in the sukuk market during fiscal year 2018, general manager of treasury at KFH AbdulWahab Al Roshood said, according to a recent statement. This volume …
The expected return on the sukuk issue is 4.39%
6 February 03:29 PM Bahrain C.bank sukuk Al Ijara oversubscribed
Mubasher: The Central Bank of Bahrain (CBB) announced that its monthly issue of the short-term Islamic leasing bonds, sukuk Al Ijara, has been oversubscribed by 119%, according to a recent statement by the central bank. Subscription value totalled …
The issue was oversubscribed 4.9 times
6 February 01:48 PM DIB lists $750m sukuk on Nasdaq Dubai
Dubai – Mubasher: Nasdaq Dubai on Wednesday announced listing dollar-denominated sukuk issue of $750 million for Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank. The issue was oversubscribed 4.9 times, while annual profit rate reached …
NBK has managed sukuk and bonds issuance for Equate
5 February 05:08 PM Bank lending remains key financing tool in GCC – NBK
Mubasher: Bank lending is still a leading financing instrument for megaprojects in the GCC countries, general manager of foreign corporate, oil and trade finance group of the National Bank of Kuwait (NBK) said. “The region’s banks have more …
4 GCC states to enter J.P. Morgan EMBI Thursday
30 January 09:54 AM J.P. Morgan EMBI to welcome listing of 4 GCC states' bonds Thursday - Analysis
By: Mahmoud Gamal Dubai – Mubasher: The UAE, Saudi Arabia, Kuwait, and Bahrain are scheduled to join the J.P. Morgan Emerging Market Bond Index (EMBI) on Thursday, 31 January. Listing of these countries on the EMBI paves the way for pumping around …
The Saudi government has set the Southeast Asian nation’s Hajj quota at 221,000 in 2019, the largest contingent of Muslim pilgrims.
27 January 05:20 PM Indonesia eyes new investment targets for $8bn Hajj funds
Mubasher: Indonesia plans to explore new sharia-compliant investment opportunities to deploy part of its $8 billion Hajj funds. The Southeast Asian nation’s hajj fund management agency (BPKH) has accumulated IDR 111 trillion ($7.9 billion) as the …
Dubai Islamic Bank
24 January 09:22 AM DIB closes $750m AT1 Perpetual Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) on Thursday announced its successful closure of US-denominated $750 million AT1 Perpetual Non-Call six-year sukuk with a profit rate of 6.25% per annum. This profit rate is equivalent to 366.4bps over the …
The meetings will take place in Abu Dhabi, Dhabi, Hong Kong, London, and Singapore on 25 January
23 January 12:12 PM Dubai Investments’ unit mulls 5-yr sukuk issue
Dubai – Mubasher: Dubai Investments Park, the wholly-owned subsidiary of Dubai Investments, has mandated five joint lead managers and bookrunners to arrange meetings with fixed income investors before its planned five-year sukuk issue. Dubai …
DIB is the biggest sukuk issuer in the UAE in terms of value with a total of $6 billion
22 January 12:23 PM DIB lists $750m sukuk on Nasdaq Dubai
Dubai – Mubasher: Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has made its seventh listing of $750 million in sukuk on Nasdaq Dubai, the market’s first listing in 2019. DIB is the biggest sukuk issuer in the UAE in terms of …
This issue is under the Saudi Arabian Government SAR-denominated Sukuk Programme.
22 January 11:33 AM Saudi Arabia raises SAR 7bn from local sukuk issue – MoF
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) on Tuesday announced closing a sukuk issue numbered (01-2019) after collecting SAR 7.095 billion. The value of (01-2019) issue was specified at SAR 5.37 billion, according to the Saudi Press …
Emaar had pushed back a planned bond issue due to rising interest rates
21 January 05:21 PM Emaar Properties, Nakheel postpone US denominated bonds
Dubai – Mubasher: Dubai’s Emaar Properties and state-owned developer Nakheel Properties have shelved US denominated bonds, people familiar with the matter said. Emaar said that it had pushed back a planned bond issue due to rising interest rates, …
21 January 04:06 PM Dana Gas buys back $5m sukuk; to cancel later
Abu Dhabi – Mubasher: Dana Gas on Monday announced that it had bought back sukuk worth $5 million issued by its affiliated company, Nile Delta Sukuk. The repurchased sukuk will be delivered to Bank of New York Mellon, which is the principal paying …
The five-year Islamic bonds issue offers buyers 130 basis points over mid-swaps
16 January 12:02 PM FAB’s sukuk issue raises $850m
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) on Wednesday announced that it has raised $850 million in sukuk issue, a document issued by one of the banks leading the transaction. The five-year Islamic bonds issue offers buyers 130 basis points …
FAB set the sukuk’s guidance price at 130 basis points (bp) over mid-swaps
16 January 09:14 AM FAB to raise $750m via sukuk issue
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) is forecast to raise $750 million via a five-year sukuk issue which is set to be implemented in the coming period, a document by one of the transaction’s arrangers showed. The UAE’s largest lender …