Islamic Finance

Blockchain was used to transact an amount of $500 million of the bank’s senior sukuk in a secondary market deal
26 November 05:00 PM Al Hilal Bank closes world’s 1st blockchain sukuk transaction
Abu Dhabi – Mubasher: Al Hilal Bank on Monday revealed that it has become the world’s first Islamic bank to use Blockchain technology for the resale and settlement of sukuk, Islamic bonds.  Blockchain was used to transact an amount of $500 million …
Photo Archive
13 November 07:41 PM X8 introduces new tokens for Islamic investors
Mubasher: X8 Currency has announced that it has been certified for Sharia compliance by the Shariyah Review Bureau (SRB). X8 is a Blockchain based digital currency that was the first to receive the certification for its ARM-AI (Automatic Reserve …
The bank issued three-year sukuk at a total value of QAR 700 million
12 November 02:53 PM QCB sells bonds, sukuk for QAR 3.6bn Monday
Mubasher: The Qatar Central Bank (QCB) has sold sukuk and bonds at a combined value of QAR 3.6 billion ($988.9 million) on Monday, 12 November. The bank issued three-year sukuk at a total value of QAR 700 million matured on 11 November 2021, …
Nasdaq Dubai welcomes EUR 650m sukuk by Saudi-based IsDB
11 November 02:05 PM Nasdaq Dubai welcomes EUR 650m sukuk by Saudi-based IsDB
Dubai – Mubasher: Nasdaq Dubai on Sunday welcomed the listing of an EUR 650 million Sukuk by the Islamic Development Bank (IsDB). This is the IsDB's first euro listing, the bourse said, noting that the IsDB currently has nine dollar-denominated …
The sukuk issued in 2013
1 November 02:37 PM Alawwal Bank to redeem SAR2.5bn sukuk
Riyadh – Mubasher: Alawwal Bank on Thursday revealed plans to redeem SAR 2.5 billion sukuk. The sukuk, which were issued in 2013 and under the symbol 1047, would be redeemed on 12 December, according to a statement to the Saudi Stock Exchange …
Gulf Navigation to proceed with AED 100m sukuk issue
31 October 12:51 PM Gulf Navigation to proceed with AED 100m sukuk issue
Dubai – Mubasher: Gulf Navigation on Wednesday announced that it would continue with its sukuk issue worth AED 100 million in a bid to boost capital and support its vessel-acquisition plans. The company had previously said it would launch a sukuk …
The new sukuk will be listed on the London Stock Exchange (LSE)
30 October 10:12 AM Tabreed raises $500m sukuk
Dubai – Mubasher: National Central Cooling Company (Tabreed) on Tuesday announced it has successfully raised seven-year term fixed rate senior unsecured US dollar-denominated RegS sukuk worth $500 million (AED 1.8 billion). The new sukuk will be …
The issue was divided into three tranches
29 October 09:51 AM Saudi Arabia closes SAR 3.25bn sukuk issue – MoF
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) has closed the (10-2018) local sukuk issue under the Saudi government local currency sukuk programme at a value of SAR 3.25 billion ($867 million). The issue was divided into three tranches …
Islamic sharia-compliant asset to exceed 2017 $2.4tn value by 2023 - DIEDC
28 October 04:01 PM Islamic sharia-compliant asset to exceed 2017 $2.4tn value by 2023 - DIEDC
Dubai – Mubasher: The Dubai Islamic Economy Development Centre (DIEDC) on Sunday rang the market-opening bell at Nasdaq Dubai’s MarketSite announcing the launch of the second day of the Islamic Economy Week, which coincided with the opening of the …
Tabreed to begin dollar-denominated sukuk roadshow
17 October 03:41 PM Tabreed to begin dollar-denominated sukuk roadshow
Dubai – Mubasher: National Central Cooling Co. “Tabreed” on Wednesday announced plans to launch fixed-rate US dollar-denominated sukuk and begin a roadshow to market the sukuk. The seven-year sukuk will be marketed through a series of fixed income …
Dana Gas to trim sukuk by October 2019
15 October 12:18 PM Dana Gas to trim sukuk by October 2019 - IR head
By: Mahmoud Gamal Abu Dhabi – Mubasher: Dana Gas now has to reduce the value of its sukuk to $397 million by October 2019, the company’s head of investor relations told Mubasher on Monday. This plan comes as part of its deal with sukuk holders, …
This cancellation would bring the total outstanding of Nile Delta sukuk certificates to around $431 million
15 October 11:27 AM Dana Gas repurchases $99m sukuk; to cancel later
Abu-Dhabi - Mubasher: Dana Gas on Monday announced that it has bought back $99 million of 4% Nile Delta sukuk certificates this month. The repurchased sukuk will be delivered to Bank of New York Mellon, which is the principal paying agent of the …
Riyad Bank to redeem SAR 4 billion sukuk
8 October 05:36 PM Riyad Bank to redeem SAR 4bn sukuk
Riyadh – Mubasher: Riyad Bank on Monday said it was planning to redeem its SAR 4 billion sukuk due in 2020. The redemption will be made “in full, at their face value [which is] 100% of the issue price at their face value at the end of year five, …
ADIB has raised $750 million of additional Tier 1 capital
8 October 02:49 PM ADIB’s AED 1bn rights issue subscription to close on 9 October
Mubasher: The subscription period for Abu Dhabi Islamic Bank’s (ADIB) AED 1 billion rights issue will close on 9 October, according to an official statement. The allocation of ADIB’s new shares will be announced a week later form the closing date. …
Officials from the ADX and Aldar Investments during the bell-ringing ceremony on Sunday
7 October 02:43 PM ADX lists Aldar Investments’ $500m sukuk Sunday
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) on Sunday announced ringing the market bell for listing Aldar Investments’ $500 million sukuk. The bell-ringing marks the listing of the first corporate sukuk ever to be listed on the …
The Islamic bonds were issued in 2008 to finance the iconic Villamar project in the Kingdom of Bahrain
2 October 10:49 AM GFH Group acquires $200m sukuk from Al Rajhi Bank
Dubai – Mubasher: GFH Financial Group, listed on Bahrain Bourse, Boursa Kuwait, and the Dubai Financial Market (DFM), has signed an agreement to acquire $200 million sukuk of Villamar Company Limited from Al Rajhi Bank. The Islamic bonds were …
Tabreed shareholders nod to $1bn bond, sukuk issue
30 September 12:53 PM Tabreed shareholders nod to $1bn bond, sukuk issue
Dubai – Mubasher: National Central Cooling Co. (Tabreed) on Sunday said its shareholders had approved the issuance of non-convertible bonds or sukuk. The bonds or sukuk may reach up to $1 billion or its equivalent, Tabreed said in a statement to …
The new listings by the global trade enabler include $1 billion sukuk
26 September 01:53 PM Nasdaq Dubai welcomes DP World’s $3.3bn sukuk, bonds
Dubai – Mubasher: Nasdaq Dubai has welcomed four sukuk and conventional bonds listings by DP World equal $3.3 billion. The new listings by the global trade enabler include $1 billion sukuk and three conventional bonds whose value amount to $1 …
The first tranche of the Islamic bonds amounted to SAR 3 billion ($800 million)
25 September 10:39 AM SEC closes SAR 7.5bn sukuk issue
Riyadh – Mubasher: The Saudi Electricity Company (SEC) has closed a SAR 7.5 billion ($2 billion) sukuk issue. The first tranche of the Islamic bonds amounted to SAR 3 billion ($800 million) with a 4.22% yield, maturing on 27 January 2024, …
Al Hilal Bank's issuance was nearly three times oversubscribed
19 September 01:37 PM Al Hilal Bank closes $500m senior 5-yr sukuk
Abu Dhabi – Mubasher: Al Hilal Bank has successfully issued $500 million five-year senior sukuk, which are considered the UAE’s first senior public sukuk since April. The transaction was the result of the bank’s extensive marketing strategy that …
The Islamic bond issue may be offered in one tranche or multiple tranches based on the market’s conditions
13 September 09:48 AM Saudi Electricity mulls sukuk issue
Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Thursday announced that it has begun holding meetings with fixed-income investors to discuss the possibility of issuing sukuk in the coming period. The Islamic bond issue may be offered in …
DP World plans to repurchase $650 million sukuk
11 September 12:32 PM DP World plans to repurchase $650m sukuk
Dubai – Mubasher: DP World on Tuesday announced plans to repurchase $650 million of its outstanding sukuk due in 2019. The company will pay $1,032 for every $1,000 worth of sukuk owned, in principal amount, it said. "The offer will expire at 4:00 …
“The issue will refinance a $750 million outstanding sukuk"
10 September 01:44 PM Aldar Properties hires banks for $750m sukuk issue
Dubai – Mubasher: Aldar Properties has reportedly hired a group of banks to arrange a US dollar-denominated sukuk issue at a minimum value of $750 million. The lenders involved in the deal included JPMorgan, Standard Chartered, First Abu Dhabi …
The bank has performed strongly in recent years
27 August 01:16 PM ADIB’s shareholders OK capital hike, sukuk issuance
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank’s (ADIB) general assembly has approved a proposal for a rights issue of AED 1 billion to increase both the paid and the issued capital through a tradable rights issue of 464 million new shares to the …
Tabreed reported a 10% YoY increase in net profit
20 August 11:58 AM Tabreed’s shareholders to consider raising $1bn in bonds
Dubai – Mubasher: National Central Cooling Company (Tabreed)’s board is planning to propose raising $1 billion (AED 3.67 billion) through bonds, sukuk, or other instruments. The company’s general assembly meet is slated for Wednesday, 19 September …