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Islamic Finance

The Sukuk has a five-year maturity from its issuance date
30 March 10:14 AM Gulf Navigation's OGM to issue AED 125m Sukuk
Dubai – Mubasher: The ordinary general meeting (OGM) of Gulf Navigation Holding (GNH) has approved issuing five-year Sukuk at a total value of AED 125 million. During the meeting, shareholders authorised the board to determine the Sukuk issuance …
Sukuk and Islamic Finance
Ministry of Finance - Saudi Arabia
27 March 06:21 PM Saudi Arabia closes March Sukuk issuance
Riyadh – Mubasher: The Saudi Ministry of Finance has closed the March 2020 issuance under the Saudi Arabian Government SAR-denominated Sukuk program. With an issuance size of SAR 15.568 billion, the offering was through three tranches, according …
Banking and Finance
Moody's assigned a 'Negative' outlook to EQUATE's new GMTN programme
23 March 02:51 PM Moody's assigns Baa2 rating to EQUATE's GMTN programme
Mubasher: Moody's Investors Service has assigned a (P) Baa2 rating to EQUATE Petrochemical Company’s new GMTN programme that is established under MEGlobal Canada ULC, with a ‘Negative’ outlook. The rating and outlook mirror the previously …
Sukuk and Islamic Finance
Sharjah has listed a $200m Sukuk on Nasdaq Dubai
22 March 04:07 PM Sharjah lists $200m Sukuk on Nasdaq Dubai
Dubai – Mubasher: The Emirate of Sharjah has listed a $200 million Sukuk on Nasdaq Dubai, bringing the total value of Sukuk listed in Dubai to $67.06 billion. On 19 March 2020, Sharjah has listed its latest $200 million Sukuk, according to a press …
Sukuk and Islamic Finance
The sukuk may be offered through various single or multiple issuances
17 March 05:39 PM Arabian Centres approves $1bn sukuk
Riyadh – Mubasher: Arabian Centres Company’s shareholders have approved the issuance of Sharia-compliant Sukuk worth up to $1 billion, during the extraordinary general meeting (EGM) on Monday. The Sukuk may be offered through various single or …
Sukuk and Islamic Finance
Bank investments in government bonds reached SAR 386.69 billion in January
2 March 02:15 PM Saudi banks raise investments in gov’t bonds
Mubasher: Banks operating in Saudi Arabia has raised its investments in government bonds by 20.67% in January 2020, as shown by the data of the Saudi Arabian Monetary Authority (SAMA). Bank investments in governmental and semi-governmental bonds …
Sector Reports
The term Murabaha facility’s duration is seven years
2 March 02:01 PM Alhokair agrees $800m Murabaha term facility
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company has signed a Murabaha and revolving credit facility agreements with a number of banks. Al Rajhi, NCB, Samba, ANB, Mashreq, and ADCB will provide a credit facility with a total value of $800 …
Sukuk and Islamic Finance
This marks the bank's largest Sukuk issuance by value
1 March 01:28 PM Nasdaq Dubai lists $2bn Sukuk by IsDB
UAE – Mubadala: Nasdaq Dubai has welcomed the listing of five-year Sukuk issued by Islamic Development Bank (IsDB) at a value of $2 billion. The Sukuk is the largest by value to be listed on Nasdaq Dubai by IsDB, the multilateral lender which …
Sukuk and Islamic Finance
Nasdaq Dubai has welcomed listing of $400m Sukuk by Dar Al-Arkan
26 February 11:28 AM Nasdaq Dubai welcomes Dar Al-Arkan’s $400m Sukuk listing
Mubasher: Nasdaq Dubai has welcomed the listing of $400 million Sukuk by Saudi Arabia's Dar Al-Arkan, one of the leading real estate companies in the Middle East. Following the $400-million listing, the total value of Dar Al-Arkan’s Sukuk in …
Sukuk and Islamic Finance
The five-year Sukuk issuance was oversubscribed 2.5 times
25 February 04:12 PM GFH rings bell for listing $300m Sukuk in Nasdaq
Mubasher: The Bahraini GFH Financial Group rang Nasdaq Dubai’s market opening bell for listing $300 million Sukuk. The five-year Sukuk issuance was oversubscribed 2.5 times with a total book value of over $750 million, according to a press release …
Corporate Actions
Photo Archive
20 February 09:57 AM Dar Al Arkan issues SAR 1.5bn unsecured Sukuk
Riyadh – Mubasher: Dar Al-Arkan Real Estate Development Company announced the closing of the seventh tranche Sukuk issuance under its US dollar denominated Sukuk Programme, with a size of SAR 1.5 billion ($400 million). The order book for the …
Sukuk and Islamic Finance
The offering will mature on 25 February
19 February 10:32 AM Riyad Bank completes 1st offering of int’l sukuk
Riyadh – Mubasher: Riyad Bank announced the completion of the first offering of its international tier 2 dollar-denominated sukuk. The Saudi lender issued a total of 7,500 sukuk at a nominal value of $200,000 apiece, totalling $1.5 billion, …
Sukuk and Islamic Finance
Photo Archive
18 February 11:32 AM Riyad Bank launches int’l Sukuk programme
Riyadh – Mubasher: Riyad Bank has launched its international Sukuk programme on Tuesday. The bank announced the commencement of the first offer of its international tier 2 US dollar-denominated Sukuk, according to a statement to the Saudi Stock …
Banking and Finance
Photo Archive
16 February 11:51 AM Dar Alarkan intends to issue dollar Sukuk
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company plans to issue seven-year US dollar senior unsecured Sukuk. The company revealed its intention to issue the fixed-rate regulation s Sukuk in a statement to the Saudi Stock Exchange …
Banking and Finance
DIB's net income grew by 13% to AED 9.266 billion
13 February 12:07 PM DIB reports higher net profits at AED 5.102bn in 2019; dividends proposed
Dubai – Mubasher: Dubai Islamic Bank (DIB) reported a 2% year-on-year (YoY) increase in net profits to AED 5.102 billion in 2019 from AED 5.003 billion in 2018, according to the bank’s consolidated financial statements for 2019. The bank’s net …
Board of Directors
Sukuk receiving bids worth a total of $4.59 billion
12 February 12:34 PM Boubyan Bank issues $750m Sukuk
Mubasher: Boubyan Bank announced the issuance of US dollar-denominated Sukuk worth $750 million. The issuance was oversubscribed by 6.12 times with orders reaching $4.59 billion. The high demand reflects investors’ confidence in Boubyan Bank’s …
Sukuk and Islamic Finance
Photo Archive
11 February 10:04 AM Riyad Bank creates $3bn Sukuk programme
Riyadh – Mubasher: Riyad Bank has established a programme for international Tier 2 Sukuk denominated in US dollars. The total value of the programme will not exceed $3 billion, according to a statement to the Saudi Stock Exchange (Tadawul) on …
Banking and Finance
Photo Archive
9 February 05:14 PM Tadawul issues AlBilad Saudi Sovereign Sukuk ETF terms
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has issued the terms and conditions for AlBilad Saudi Sovereign Sukuk ETF, as a registered exchange-traded fund (ETF). The move follows on the Capital Market Authority (CMA) board’s approval of …
Sukuk and Islamic Finance
Riyad Bank
6 February 05:29 PM Moody's assigns A2 rating to Riyad Bank's $3bn Sukuk
Riyadh – Mubasher: Moody's Investors Service has assigned a provisional foreign-currency long-term (P)A2 senior unsecured rating to Riyad Sukuk Limited's backed $3 billion trust certificate issuance programme. The Sukuk issuance was also assigned …
Banking and Finance
Saudi Arabian Monetary Authority (SAMA)
30 January 02:42 PM Saudi banks increase investments in gov’t bonds
Riyadh – Mubasher: Saudi banks increased their purchases of government bonds during 2019 by around 55.1% or SAR 27.91 billion to a total of SAR 78.52 billion, compared with SAR 50.61 billion in 2018. Total bank investments in Saudi bonds grew by …
Sector Reports
CIAF Leasing will be the issuer of sukuk worth $50 million
28 January 02:28 PM CIAF Leasing, Talaat Moustafa to issue sukuk in 3 months
By: Fahd Omran Cairo – Mubasher: The Egyptian aircraft leasing company CIAF Leasing will issue the first corporate sukuk in February, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel …
Banking and Finance
Ministry of Finance
27 January 01:37 PM Saudi Arabia closes January Sukuk issuance
Riyadh – Mubasher: The Saudi Ministry of Finance announced that it has closed the January 2020 issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at SAR 6.720 billion, according to an official …
Bonds
Mumtalakat’s CEO Khalid Al Rumaihi
22 January 09:44 PM Mumtalakat receives $4bn orders for $500m sukuk
Mubasher: Bahrain Mumtalakat Holding Company, the sovereign wealth fund of Bahrain, has received $4 billion worth of orders for $500 million sukuk, Mumtalakat’s CEO Khalid Al Rumaihi told CNBC Arabiya on Wednesday. The company did not expect such …
Sukuk and Islamic Finance
The Murabaha facility agreement was signed in June 2019
22 January 04:38 PM Alafco recieves last tranche of $600m Murabaha facility
Mubasher: Alafco Aviation Lease and Finance Company on Wednesday announced the successful closure of a $600 million five-year unsecured Murabaha facility as it received the last tranche of $80 million. The payment marked the last phase of the …
Companies Investments
Order books were oversubscribed 2.5 times, exceeding $750 million
22 January 09:39 AM GFH raises $300m in Sukuk issuance; oversubscribed 2.5 times
Dubai – Mubasher: GFH Financial Group on Wednesday announced the successful closure of five-year Sukuk valued at $300 million.   The issuance was oversubscribed 2.5 times with more than $750 million, according to a bourse statement. GFH believes …
Sukuk and Islamic Finance