Islamic Finance

NBK Research also predicts regional issuance to remain solid in 2019
4 hours ago GCC bond, sukuk issuance surges $32bn in Q1– NBK Research
Mubasher: The issuance of bonds and sukuk in the Gulf region has soared by $32 billion during the first quarter of 2019. The surge in Q1 bond and sukuk issuance in the GCC has raised outstanding debt in the region to $478 billion. Meanwhile, …
Amanat will submit its financials to Dar Al Dharia for periodic review
19 May 11:08 AM Amanat confirms shares compliance with Islamic Sharia
Dubai – Mubasher: Amanat Holdings on Sunday announced that its shares are compatible with the principles of Islamic Sharia according to the certificate issued by Dar Al Sharia Limited. Dar Al Sharia has reviewed Amanat’s financial statements for …
The subscription will be limited to professional clients
16 May 07:47 PM Kuwait’s CMA approves KIB’s $300m perpetual sukuk
Mubasher: Kuwait’s Capital Markets Authority (CMA) on Thursday approved Kuwait International Bank’s (KIB) request to issue up to $300 million perpetual additional Tier 1 capital securities. The subscription will be limited to professional clients …
Majid Al Futtaim’s bonds listed on Nasdaq Dubai hit $2.4 billion
16 May 01:07 AM Majid Al Futtaim rings Nasdaq Dubai’s bell for $600m sukuk listing
Dubai – Mubasher: leading Emirati shopping mall and leisure pioneer Majid Al Futtaim on Wednesday marked the listing of $600 million green sukuk. Considered the first benchmark corporate green sukuk and the first green sukuk issued by a corporate …
9 May 11:01 AM Savola to launch SAR-denominated sukuk programme
Riyadh – Mubasher: The Savola Group Company (Savola) plans to establish a Sukuk Programme and issue sukuk thereunder either directly or through launching a special purpose vehicle (SPV). The SPV will be established inside or outside of Saudi …
NMC Health was established in 1975
8 May 02:21 PM KIB acts as lead arranger for $80m financing for UAE’s NMC Health
Mubasher: The leading bank in Kuwait KIB has acted as a Mandated Lead Arranger and Structuring Advisor in a one-year revolving syndicated Murabaha facility for NMC Healthcare (NMC), one of the largest UAE healthcare providers in the region. This …
The proceeds of the sukuk will support eco-friendly projects
7 May 01:59 PM Majid Al Futtaim markets 10-yr USD-denominated green sukuk
Dubai – Mubasher: UAE-based shopping mall developer and operator Majid Al Futtaim has started to promote for its 10-year US dollar-denominated green sukuk at around 245 basis points over average swap rates, a document by one of the banks managing …
The 10-year sukuk carries a return of 3.890%
5 May 12:39 PM STC closes $1.25bn 1st US dollar sukuk issue
Riyadh – Mubasher: The Saudi Telecom Co (STC) announced that its subsidiary, STC Sukuk Company Limited, has completed the offering of its first international US dollar-denominated sukuk worth $1.25 billion (SAR 4.7 billion). The issue comprises …
The issuance is slated for the third quarter
2 May 08:29 PM Saudi Arabia may issue $5bn int’l sukuk in Q3
Riyadh – Mubasher: Saudi Arabia is planning to issue from $3 billion to $5 billion worth of international sukuk in line with the kingdom’s endeavours to diversify resources, head of debt management office (DMO) told Reuters. The issuance is slated …
IDB’s listings on Nasdaq Dubai hit a total value of $12.54 billion
28 April 12:43 PM IDB lists $1.5bn sukuk on Nasdaq Dubai
UAE – Mubasher: Islamic Development Bank (IDB), a multilateral development finance institution that is focused on Islamic finance located in Saudi Arabia, has made its 10th listing of $1.5 billion sukuk on Nasdaq Dubai. Accordingly, IDB’s listings …
The deal will finance Mouwasat hospital in Khobar
25 April 03:59 PM Mouwasat inks SAR 167m murabaha deal with Project Support Fund
Riyadh – Mubasher: Mouwasat Medical Services on Thursday announced signing a murabaha financing agreement with the Project Support Fund, affiliated to the kingdom’s finance ministry. The SAR 169.85 million ($45.29 million) deal aims to finance …
The issue is set to be closed on 30 June
25 April 03:44 PM STC to offer its 1st US dollar sukuk issue on Friday
Riyadh – Mubasher: The Saudi Telecom Company (STC) will offer the first issue of its US dollar-denominated sukuk on Friday, 26 April. The size of the issue, set to be closed on 30 June, will be specified subject to the market’s condition and …
The move aims to enhance the kingdom’s domestic sukuk market
25 April 12:47 PM Saudi MoF trims local sukuk’s par value to SAR 1,000
Riyadh – Mubasher: The Saudi Ministry of Finance’s (MoF) Debt Management Office (DMO) has announced reducing the par value of riyal-denominated sukuk. The sukuk’s par value was trimmed to SAR 1,000 a piece from SAR 1 million, the MoF added, …
The volume of the 30-year sukuk issue amounted to SAR 11.619 billion
25 April 12:13 PM Saudi Arabia issues first-ever 30-yr local sukuk
Riyadh – Mubasher: The Saudi Ministry of Finance’s (MoF) Debt Management Office (DMO) has completed the fourth issue of domestic sukuk this year, with the first-ever issuance of riyal-denominated Islamic bonds with a 30-year maturity. “This …
Headquarters of the Abu Dhabi Islamic Bank
22 April 03:46 PM ADIB records AED 600m net profit in Q1-19
Abu Dhabi – Mubasher: The Abu Dhabi Islamic Bank (ADIB) achieved an increase of 1.7% in net profit to AED 600.3 million during the first quarter of 2019 compared to AED 590.4 million in the same period last year. Net revenues grew by 5.3% to AED …
The Saudi lender’s investment portfolio grew 30% in Q1-19
22 April 01:51 PM Alinma Bank invests SAR 13bn in gov’t sukuk – CEO
Riyadh – Mubasher: Alinma Bank has invested SAR 16 billion ($4.27 billion) in sukuk, including SAR 13 billion ($3.47 billion) in government sukuk, the lender’s CEO told Al Arabiya. The 30% year-on-year growth in the Saudi lender’s financing and …
Dar Al Arkan has no plans to issue new sukuk in the meantime
22 April 11:19 AM Dar Al Arkan to redeem SAR 1.5bn sukuk
Riyadh – Mubasher: Dar Al Arkan Real Estate Development Company said it will redeem SAR 1.5 billion ($400 million) 2019 Sukuk from the company’s internal cash reserves. The sukuk, listed on the Irish Stock Exchange and Nasdaq Dubai, are due to …
The sukuk will improve SAIB’s capital base and capital adequacy ratios
15 April 05:04 PM SAIB closes SAR 215m subordinated sukuk
Riyadh – Mubasher: Saudi Investment Bank (SAIB) on Monday announced the closure of its transaction of SAR 215 million sharia-compliant subordinated tier I sukuk through a private placement offer in Saudi Arabia. The sukuk will improve SAIB’s …
The Sukuk issue has an expected yield of 3.62%
15 April 02:24 PM Bahrain C.bank issues BHD 43m Sukuk
Mubasher: The Central Bank of Bahrain (CBB) on Monday stated that the BHD 43 million short-term Sukuk issue, has been oversubscribed by 529%. The Sukuk issue has an expected yield of 3.62%, compared to a 3.95% yield in the issue offered on 20 …
The Sukuk Al-Ijara have an expected yield of 3.95%
9 April 03:37 PM Bahrain C.bank issues BHD 26m Sukuk Al-Ijara
Mubasher: The Central Bank of Bahrain (CBB) on Tuesday announced that the BHD 26 million short-term Islamic leasing bonds issue, known as Sukuk Al-Ijara, has been oversubscribed by 621%. The Sukuk Al-Ijara have an expected yield of 3.95%, compared …
ADCorp has raised funds at a value surpassing $100 million in January
8 April 02:48 PM ADCorp records profit in FY18, mulls new funds in 2019
Mubasher: ADCorp announced a positive performance for its income statements for fiscal year 2018, its first year of operations. During its meeting on 26 March 2019, the board approved the FY18 financials and also approved the launch of two new …
AAOIFI will be held in Bahrain on 7 and 8 April
3 April 03:35 PM KFH to demonstrate global Sukuk listing during AAOIFI in Bahrain
Mubasher: Kuwait Finance House (KFH) will be one of the main sponsors during the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) event, the 17th Sharia Boards conference. Set to be held in Bahrain on 7 and 8 April, …
The recent issue has brought the GCC emirate’s total Sukuk value listed on the exchange raised to $3.45 billion
3 April 02:17 PM Nasdaq Dubai welcomes Emirate of Sharjah’s $1bn sukuk listing
Dubai – Mubasher: Nasdaq Dubai on Wednesday announced it has welcomed the listing of $1 billion sukuk issued by Emirate of Sharjah. The recent issue has brought the GCC emirate’s total Sukuk value listed on the exchange raised to $3.45 billion, …
The 12-month financing deal aims to finance the company’s exports
1 April 10:41 AM Saudi Ceramic inks SAR 120m murabaha deal
Riyadh – Mubasher: Saudi Ceramic Company on Sunday announced signing a SAR 120 million ($32 million) murabaha financing agreement with the International Islamic Trade Finance Corporation (ITFC). The 12-month financing deal, part of the export …
The number of redeemed sukuk amounts to 2,000.
31 March 05:03 PM Banque Saudi Fransi to early redeem SAR 2bn sukuk in June
Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Sunday announced plans to early redeem its SAR 2 billion tier 2 sukuk at full face value on 18 June. The Islamic bonds, originally maturing on 18 June 2024, were issued on 18 June 2014 for SAR 2 …