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Sukuk and Islamic Finance

The agreement is set to allow for the exchange of knowledge and experience
4 December 04:24 PM Dubai IEDC, Saudi Islamic Economics Institute sign cooperation pact
Mubasher: The Dubai Islamic Economy Development Centre (IEDC) has signed a cooperation agreement with the Islamic Economics Institute at King Abdul Aziz University (KAU) in Saudi Arabia. IEDC aims at expanding its network of strategic partners in …
Nasdaq Dubai became a multi-currency listing hub
4 December 12:33 PM Nasdaq Dubai welcomes listing of EUR 1bn green sukuk by Saudi IsDB
Dubai – Mubasher: Nasdaq Dubai has welcomed the listing of EUR 1 billion green sukuk by the Islamic Development Bank (IsDB), marking the bank’s first green listing issued under its Sustainable Finance Framework. IsDB’s sukuk follows two other …
CIAF Leasing will be the issuer of $50 million worth of sukuk
3 December 03:43 PM Egypt to issue 1st corporate sukuk in weeks – FRA official
Cairo – Mubasher: Egypt will issue its first corporate sukuk in the coming weeks, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel Fadil, told Reuters on Tuesday. The aircraft leasing …
KIB will manage QIIB’s $300 million sukuk issuance
2 December 04:42 PM KIB named as manager of QIIB’s $300m sukuk issuance
Mubasher: Kuwait International Bank (KIB) was chosen to manage for Qatar International Islamic Bank’s (QIIB) Sukuk issuance, the first of its kind in Qatar, according to the Kuwaiti lender’s press release. KIB will manage QIIB’s $300 million …
ICD Headquarters - Jeddah, Saudi Arabia
27 November 01:02 PM ICD signs $10m finance deal with Uzbekistan’s AAB
Riyadh – Mubasher: The Islamic Corporation for the Development of the Private Sector (ICD) has signed a $10 million line of financing agreement with Asia Alliance Bank (AAB), as well as an advisory agreement on launching an Islamic Window on …
Ministry of Finance
26 November 12:11 PM Saudi Arabia closes November Sukuk issuance
Riyadh – Mubasher: Saudi Arabia has closed the November 2019 issuance, under the Saudi Arabian Government SAR-denominated Sukuk Program, according to a statement by the Debt Management Office (DMO) of the Saudi Ministry of Finance. The Sukuk …
Banks providing the finances are led by Samba Financial Group
20 November 11:26 AM Arabian Centres inks $1.4bn Murabaha, Ijara deals
Riyadh – Mubasher: Arabian Centres Company has signed Islamic finance facilities worth a total of $1.4 billion (SAR 5.25 million) with a number of banks. Banks providing the finances are Samba Financial Group as Global Agent, Goldman Sachs …
The five-year Sukuk certificates have a 5.375% return
20 November 10:49 AM Arabian Centres issues $500m Sukuk
Riyadh – Mubasher: Arabian Centres Company announced on Wednesday the completion of issuing international USD-denominated Sukuk, according to a statement to the Saudi Stock Exchange (Tadawul). The company issued 2,500 Islamic bonds (Sukuk) at a …
Photo Archive
18 November 12:25 PM Advanced Petrochemical redeems SAR 1bn Sukuk
Riyadh – Mubasher: Advanced Petrochemical Company announced that it has completely redeemed its SAR 1 billion Sukuk on Sunday 17 November, according to a bourse filing. The company has redeemed 1,000 Islamic bonds (Sukuk) with a par value of SAR 1 …
The purpose of the SAR 100 million bank facility is to finance assigned projects
18 November 12:11 PM Al Moammar, Albilad ink Islamic finance deal
Riyadh – Mubasher: Al Moammar Information Systems Company announced signing a Shariah-Compliant Islamic finance agreement with Bank Albilad. The SAR 100 million credit facility was received on 22 October 2019, according to a company statement to …
The has been 2.7 times oversubscribed
18 November 10:30 AM DIB successfully closes $750m sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) managed to close a five-year sukuk issue worth $750 million with a profit rate of 2.95% annually or 140 basis points (bps) during the five-year mid swap rate.  This transaction is the bank’s second foray …
Dar Al-Arkan Chairman ringing today's session opening bell in Nasdaq Dubai
13 November 04:14 PM Dar Al-Arkan lists $600m Sukuk on Nasdaq Dubai
Riyadh – Mubasher: Dar Al-Arkan Real Estate Development Company, listed on the Saudi Stock Exchange (Tadawul), has listed $600 million Sukuk on Nasdaq Dubai. The five-year Sukuk issuance was more than 2.5 times oversubscribed, with investors from …
The sukuk issue was oversubscribed by 6x
9 November 05:19 PM ADX lists $500m sukuk issued by Aldar Properties’ unit
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange has listed $500 million sukuk issued by Aldar Investment Properties, a fully-owned subsidiary of Aldar Properties, the Emirates News Agency reported. With a tenor of 10 years, the fixed-rate …
Moody’s assigned Ba1 rating to Arabian Centres
8 November 10:46 PM Moody’s assigns Ba2 rating to Arabian Centres’ dollar sukuk; Outlook stable
Riyadh – Mubasher: Moody’s Investors Service has assigned Ba1 corporate family rating to Arabian Centres Company, according to a statement released on Friday. The international rating agency assigned a Ba2 instrument rating to the benchmark sized …
Arabian Centres hired Goldman Sachs and HSBC
8 November 09:58 PM Saudi Arabian Centres hires banks to arrange dollar sukuk
Riyadh – Mubasher: Arabian Centres Company has reportedly hired global banks to arrange its dollar-dominated sharia-compliant sukuk, according to Reuters. The Tadawul-listed company hired Goldman Sachs and HSBC to coordinate the deal, along with …
The sukuk offering will be subject to the approval of the relevant regulatory authorities
7 November 11:59 AM Arabian Centres to issue dollar-dominated sukuk
Riyadh – Mubasher: Arabian Centres Company revealed its intention to issue dollar-dominated sharia-compliant sukuk. The number and value of any Sukuk to be offered will be determined based on market conditions and the Company’s financial and …
Saifi discusses findings of 2019 Islamic Banking Index's edition
6 November 01:48 PM Islamic banking index rises to best levels in 5 yrs
Dubai - Mubasher: The 2019 edition of the Islamic Banking Index by Emirates Islamic indicated significant progress in the Islamic banking sector across parameters, with Islamic banking penetration skyrocketing to its highest level since launching …
Photo Archive
5 November 02:05 PM KPC obtains KWD 350m financing from local banks
Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …
Arabian Centres tends to have more flexible and unsecured public markets financing
28 October 01:22 PM Arabian Centres approves sukuk issuance
Riyadh – Mubasher: The extraordinary general assembly of Arabian Centres Company has approved the issuance of sharia-compliant sukuk. The sukuk, which may be issued in any currency whether domestically and/or internationally, comes along with the …
Total sukuk listed in Dubai hit $63.7bn
23 October 01:03 PM Nasdaq Dubai welcomes $750m sukuk listed by Sharjah
UAE – Mubasher: Nasdaq Dubai has welcomed the listing of $750 million sukuk by the UAE’s Emirate of Sharjah, according to a statement released on Wednesday. Following the recent listing, the total value of all of Sharjah’s Nasdaq Dubai-listed …
The new sukuk is due in 2029
22 October 06:14 PM Saudi Arabia hires banks for $2.5bn sukuk issuance
Riyadh – Mubasher: Saudi Arabia has reportedly hired JPMorgan and Standard Chartered banks to manage a $2.5 billion sukuk issuance, according to Reuters. The new sukuk is due in 2029 and will be completed on Tuesday, the international news agency …
The issuance size was set at SAR 7.265 billion
22 October 01:02 PM Saudi Arabia closes October domestic sukuk issuance totalled SAR 7.27bn
Riyadh – Mubasher: Saudi Arabia’s Ministry of Finance (MoF) has closed the October issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at SAR 7.265 billion, according to the ministry’s statement on …
Majid Al Futtaim hires banks for dollar green sukuk issue
22 October 10:37 AM Majid Al Futtaim appoints banks for 10-year dollar green sukuk
UAE – Mubasher: The UAE-based holding company Majid Al Futtaim has mandated a group of banks to arrange a potential issue of US dollar-denominated green sukuk, Reuters reported, citing a document by one of the banks leading the deal. The Emirati …
Algorand’s ecosystem is now open to Islamic institutions using the platform
21 October 04:10 PM Algorand’s blockchain platform certified for sharia financing
Mubasher: The Algorand Foundation announced on Monday the certification of its blockchain platform in compliance with sharia financing, according to the organisation’s press release. Algorand enlisted Bahrain’s Shariyah Review Bureau (SRB), …
The sukuk has a coupon rate of 3.875%
16 October 09:39 AM Aldar’s unit raises $500m in sukuk placement
Abu Dhabi - Mubasher: Aldar Investment Properties, a wholly-owned subsidiary of Aldar Properties, announced it has raised a nominal amount of $500 million by placing a fixed rate US dollar-denominated sukuk with a tenor of 10 years. The …