Sukuk and Islamic Finance

Photo Credit: Arabianeye-Reuters
22 May 02:36 PM CBB Islamic securities oversubscribed
Mubasher: The Central Bank of Bahrain (CBB) announced that the monthly issue of Sukuk Al-Salam Islamic securities has been oversubscribed by 205%. CBB noted that BHD 88 million worth subscriptions were received for the BHD 43 million issue, …
Photo Credit: Arabianeye-Reuters
16 May 01:28 PM Al Baraka sets meeting to plan USD sukuk issue
Mubasher: Al Baraka Banking Group will hold a meeting with a consortium of banks to arrange the issue of US dollar-denominated sukuk, according to a bourse statement issued on Tuesday. Al Baraka has mandated Standard Chartered Bank as the global …
One of Dana's projects in Iraq (Photo Credit: Company Website)
11 May 01:45 PM Dana to discuss sukuk restructuring
Dubai – Mubasher: Dana Gas will start discussions over restructuring with sukuk holders dated 8 May 2013. The sukuk matures on 31 October 2017, according to a statement. Dana will take into account the issues it is facing over cash collections and …
(Photo archive)
10 May 11:55 AM Tasnee to hold sukuk holders assembly 14 June
Riyadh – Mubasher: The special assembly of the sukuk holders of National Industrialization Company (Tasnee) will meet on 14 June. The meeting will vote on the approval and wavering any right that may be granted as per decisions and pledges related …
(Photo credit: Company Website)
10 May 09:14 AM SEC completes partial purchase of sukuk
Riyadh - Mubasher: Saudi Electricity Company (SEC) successfully completed the partial purchase of the sukuk from those sukukholders who wished to have their sukuk purchased by the company on the first purchase date on 10 May 2017. The company …
Nasdaq Dubai's headquarter (Photo Credit: Arabianeye-Reuters)
10 May 08:26 AM Tunisia cooperates with Nasdaq Dubai for 1st sukuk issue
Dubai – Mubasher: Nasdaq Dubai, together with Tunisian government and Bourse de Tunis, has set up a task force to help Tunisia condust its first sukuk issue, according to a statement. The task force is considering commercial, legal, and regulatory …
Omniyat's headquarter (Photo Credit: Mubasher)
7 May 02:58 PM Omniyat mulls sukuk issue – CEO
By: Amr Adel Dubai – Mubasher: Omniyat is considering the issue of sukuk to diversify its funding sources, executive chairman and CEO Mahdi Amjad told Mubasher. This step comes within the company’s framework to explore all available funding …
(Photo archive)
7 May 09:32 AM FIPCO, Riyad Bank ink Islamic credit facility worth SAR 49m
Riyadh – Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) signed an Islamic credit facility agreement with Riyad Bank worth SAR 49 million ($13 million). The purpose of the deal is to partially finance the manufacturing …
DAMAC rings bell to celebrate listing of $500 million sukuk on Nasdaq Dubai (Photo Credit: Press Release)
4 May 12:37 PM Damac unit lists $500m sukuk on Nasdaq Dubai
Dubai – Mubasher: Damac Properties celebrated the listing of a $500 million sukuk issue by its wholly owned subsidiary DAMAC Real Estate Development Limited (DRED) on Nasdaq Dubai, according to a statement. The listing supports Damac’s …
(Photo Credit: Company website)
4 May 10:32 AM SEC sukuk holders OK proposed amendments
Riyadh - Mubasher: The special assembly of the sukuk holders of Saudi Electricity Company (SEC) approved the proposed amendments to its SAR 7 billion sukuk terms and conditions. As per the assembly’s decision, the company will purchase SAR 1.27 …
Damac's CFO Adil Taqi (Photo Credit: Mubasher)
4 May 10:26 AM Damac to use $500m sukuk to repay dues, buy lands
By: Amr Adel Dubai – Mubasher: Damac Properties aims to use the proceeds of $500 million sukuk to repay part of an earlier sukuk issuance and buy new land plots, according to the company’s chief financial officer (CFO) Adil Taqi. The company will …
One of City Centre's branches owned by Al Futtaim Group (Photo Credit: Company Website)
2 May 01:05 PM MAF to distribute $500m in sukuk 2 May
Dubai – Mubasher: MAF Sukuk Limited announced on Tuesday, 2 May, the payment of its periodic distribution of $500 million worth of trust certificates, according to a statement to Nasdaq Dubai. The certificates are due November 2025. Profit will be …
Photo Credit: Arabianeye-Reuters
1 May 03:13 PM Abdul Mohsen Al Hokair inks SAR 45m loan deal
Mubasher: Abdul Mohsen Al Hokair Group for Tourism and Development Co has signed an agreement with The Saudi Investment Bank to obtain SAR 45 million ($12 million) worth Islamic credit facility. The loan agreement has a one-year duration period …
One of Dana's projects (Photo Credit: Company Website)
27 April 02:02 PM Dana Gas seeks to reach deal with sukukholders
Abu Dhabi – Mubasher: Dana Gas will work to reach a “standstill” agreement with the holders of its outstanding sukuk before their maturity date, according to a bourse statement. The company has some $700 million in outstanding sukuk that will …
(Photo archive)
27 April 12:49 PM KSA chooses ISE for sukuk listing
Riyadh – Mubasher: Saudi Arabia has chosen the Irish Stock Exchange (ISE) to list its sukuk, which have been successfully issued weeks ago to be the world's largest sukuk issue at a value of $9 billion. In October, the Kingdom had listed its first …
(Photo Credit: Company website)
24 April 02:35 PM Jabal Omar plans joining sukuk market soon – CEO
Riyadh – Mubasher: Jabal Omar Development is getting ready to join sukuk market soon, Jabal Omar CEO, Yasser Al Sharif said. Sharif added to the Al Arabiya that his company sought signing contracts with global and domestic operators on the …
(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 …