Islamic Finance

SIB listed two $500 million sukuk on the Nasdaq Dubai
18 April 03:55 PM Nasdaq Dubai welcomes AED 3.3bn sukuk listing
Dubai – Mubasher: The Nasdaq Dubai exchange has welcomed the listing of AED 3.3 billion ($900 million) sukuk by Sharjah Islamic Bank (SIB) and DAMAC Properties. The last sukuk listing – AED 1.8 billion ($500 million) by SIB and AED 1.47 billion …
The new sukuk was marketed on Wednesday
12 April 12:01 PM Damac sells $400m 5-yr sukuk
Dubai – Mubasher: DAMAC Properties has launched a $400 million (AED 1.47 billion) sukuk sale, with a five-year maturity and a yield of 6.625%. The Dubai-based and listed developer announced that it received around $850 million (AED 3.12 billion) …
QCB had issued debt notes worth 47.5 billion riyals in 2017
3 April 02:44 PM QCB to issue QAR 47.5bn debt notes in 2018
Mubasher: Qatar Central Bank’s (QCB) intends to issue the 2017 same amount of debt instruments this year. Sheikh Abdullah bin Saud al-Thani, QCB governor, expected that the bank will issue bonds and sukuk at a combined value of QAR 47.5 billion …
The notes will be issued in the coming weeks
2 April 03:23 PM Sharjah Islamic Bank to issue $500m sukuk
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) has mandated HSBC and Standard Chartered to coordinate an over $500 million (EUR 355.6 million) sukuk sale, with a five-year maturity. The notes will be issued in the coming weeks, while the sale …
DAMAC is projected to hire more banks to arrange the Islamic bond sale
2 April 09:51 AM Dubai’s DAMAC hires int’l banks for potential sukuk sale
Dubai – Mubasher: DAMAC Properties Dubai Co has appointed banks, including Barclays and HSBC Bank to manage a potential sale of US dollar-denominated sukuk. The Dubai-based real estate developer is projected to hire more banks to arrange the …
The new sukuk will boost Dar Al-Arkan’s investments
1 April 12:51 PM Nasdaq Dubai welcomes Dar Alarkan’s $500m sukuk listing
Dubai – Mubasher: Nasdaq Dubai has celebrated the listing of five-year $500 million sukuk by Dar Alarkan Real Estate Development Company. Oversubscribed by two times, the new sukuk will boost Dar Al-Arkan’s investments and real estate activities …
The sukuk sale will be issued as a private placement
28 March 11:13 AM DSI to issue AED 450m convertible sukuk in Q2
Dubai – Mubasher: Drake & Scull International (DSI) has unveiled plans to issue a 5-year AED 450 million convertible sukuk in the second quarter of 2018. The sukuk sale will be issued as a private placement or public issuance at a price of AED 3 …
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27 March 08:33 PM QIIB to issue $400-500m Sukuk
Mubasher: The CEO of Qatar International Islamic Bank (QIIB) said that the second tranche of the mudarabah sukuk will be issued at a total value between $400 to 500 million. Abdulbasit Al Shaibei added that the decision comes after studying …
The Qatari bank has issued QAR 1 billion sukuk in 2016
27 March 09:16 AM QIIB to pay QAR 4/shr dividends for FY17
Mubasher: The ordinary general meeting (OGM) of Qatar International Islamic Bank (QIIB) has approved the board’s recommendation to distribute 40% of capital as a cash dividend for fiscal year 2017. The Qatar-listed bank will pay QAR 4 per share to …
The Islamic bond sale will boost the SAIB's capital base
21 March 04:56 PM SAIB closes SAR 1bn sukuk sale
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) has sold a SAR 1 billion Shariah-compliant Tier I Sukuk through a private placement offer in Saudi Arabia. The Islamic bond sale will boost the SAIB's capital base and adequacy ratios, the …
The sukuk issue amounted to SAR 4.85 billion
20 March 02:17 PM Saudi Arabia completes 5th domestic sukuk issue – Ministry
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) announced finalising its local tap issue of Islamic bonds under the government’s SAR-denominated sukuk programme. The issue’s volume amounted to SAR 4.85 billion, while the total volume of …
Nasdaq Dubai lists $1.25bn Islamic Development Bank sukuk
18 March 02:50 PM Nasdaq Dubai lists $1.25bn Islamic Development Bank sukuk
Mubasher: Nasdaq Dubai on Sunday announced listing the $1.25 billion sukuk for the Islamic Development Bank (IDB). This new listing raises the number of IDB’s sukuk on the Dubai-based exchange to nine, while their total value amounts to $11.5 …
Emirates will use the raised amount to fund “general corporate purposes”
18 March 10:47 AM Emirates to sell $600 million 10-yrs sukuk
Dubai – Mubasher: Emirates plans to launch a $600 million 10-year sukuk at a profit rate of 4.5%, according to a company statement. “The yield was cut from an initial guidance, which was in the high 4% range,” Bloomberg reported, citing a source …
Sharjah listed $750 million sukuk in 2014
15 March 04:17 PM Nasdaq Dubai welcomes $1bn sukuk listing by Sharjah
Dubai – Mubasher: The Nasdaq Dubai exchange welcomed the listing of a 10-year $1 billion sukuk issued by the Emirate of Sharjah, the UAE-based bourse announced on Thursday. The new listing increased the total value of sukuk listed in Dubai to …
The fifth tranche of the sukuk programme will be matured by 2023
15 March 10:12 AM Saudi Dar Al Arkan issues SAR 1.88bn sukuk
Riyadh – Mubasher: Saudi Arabia-based Dar Al Arkan Real Estate Development Company on Thursday announced closing the fifth tranche of sukuk issuance under its dollar-denominated Islamic sukuk programme at a value of SAR 1.875 billion ($500 …
Investors can subscribe in the new note until 24 March 2018
14 March 11:47 AM ADIB launches 12-M protected equities basket note
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) launched on Wednesday a capital-protected, Sharia-compliant equities basket note with a 12-month maturity aimed at identifying the growth potential of companies operating in the cybersecurity …
Sukuk issuance will boost the group’s plans and operations
14 March 10:08 AM Emirates to issue AED 4bn sukuk - chairman
Dubai - Mubasher: Dubai-based airline Emirates plans to raise AED 4 billion through an Islamic bond sale, chairman of the world's largest airline by international passengers Ahmed bin Saeed Al Maktoum said.    Sukuk issuance will boost the group’s …
The maturity date of both sukuk and bonds is 12 March 2023
13 March 03:05 PM QCB sells sukuk, bonds for QAR 2bn
Mubasher: The Qatar Central Bank (QCB) has sold sukuk and bonds amounting to QAR 2 billion ($549.4 million) on Monday 12 March 2018. The bank sold five-year conventional bonds at a total value of QAR 1.1 billion, while the issued sukuk amounted to …
“The orders also apply to Dana’s board of directors"
13 March 11:58 AM Sharjah Court shrugs off UK legal orders in Dana’s sukuk case
Abu Dhabi – Mubasher: The Sharjah Court of First Instance issued orders regarding Dana Gas’ sukuk case prohibiting the Abu Dhabi-listed energy company from withdrawing, discharging, or abandoning the court’s orders in favour of Dana or the …
11 March 11:42 AM Dana Gas seeks deal with sukuk holders
Abu Dhabi – Mubasher: Dana Gas is on the verge of making a deal with sukuk holders to restructure its $700 million Islamic bonds matured on 7 October 2017, sources familiar with the matter said. The Abu Dhabi-listed gas producer offered two …
The bonds attracted a total demand of over $1.3 billion
28 February 12:01 PM FAB concludes $650 million sukuk issue
Abu Dhabi - Mubasher: First Abu Dhabi Bank (FAB) has concluded the issuance of a $650 million 5-year sukuk under its $2.5 billion Trust Certificate Issuance Programme, according to a filing to the Abu Dhabi Securities Exchange (ADX). The new …
QIB will increase the limit of dollar-denominated sukuk programme to a maximum of $4 billion
22 February 11:48 AM QIB OKs distributing QAR0.5/shr dividends for 2017
Mubasher: Qatar Islamic Bank (QIB) on Thursday announced that the ordinary general assembly and the extraordinary general assembly approved distributing a cash dividend of 50% of the nominal value of share capital, equalling QAR 0.5 per share for …
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20 February 05:41 PM Maaden issues SAR 3.5bn sukuk
Mubasher: Saudi Arabian Mining Company (Ma’aden) announced that its subsidiary, Maaden Phosphate Company (MPC) has successfully completed the offering of its Shariah compliant sukuk for SAR 3.5 billion. The issuance consists of 3,500 certificates …
The new listing is deemed DIB’s sixth sukuk listing on Nasdaq Dubai
20 February 02:04 PM Dubai Islamic Bank marks $1bn sukuk listing
Dubai – Mubasher: Dubai Islamic Bank (DIB) has celebrated the listing of $1 billion sukuk on Nasdaq Dubai, the Emirati bourse said in a statement on Tuesday. The new listing is deemed DIB’s sixth sukuk listing on Nasdaq Dubai, which makes the …
The total value of the sukuk sale amounts to GBP 250 million ($347.53 million)
14 February 04:33 PM Al Rayan Bank-UK issues $347.5m sukuk
 Mubasher: Al Rayan Bank-UK, a 68.84% owned by the Qatar-based Masraf Al Rayan, on Wednesday announced that it is on the verge of completing its first ever sukuk issuance through residential mortgage-backed securities. The total value of the sukuk …