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This brings Contact's total Sukuk issuances to EGP 5 billion
10:47 AM Contact Financial Holding closes second Sukuk issuance worth EGP 2.5bn
Cairo - Mubasher: Contact Financial Holding has closed its second Sukuk issuance worth EGP 2.5 billion by its Sukuk arm, Sarwa Sukuk Company. The Shariah-compliant Mudaraba Sukuk, which has a seven-year tenor, received a high credit rating of A- …
The settlement of the Sukuk will take place on 28 July
15 July 04:15 PM Arabian Centers raises $225m from USD-denominated Sukuk issue
Riyadh – Mubasher: Arabian Centers Company has offered 1,125 USD-denominated Sukuk ll Re-Tap at a total value of $225 million. The Shariah-compliant notes were offered at a par value of $200,000 per note, holding a 5.5-year maturity until 7 …
Arabian Centres will later announce the size and value of the Sukuk
13 July 04:17 PM Arabian Centres starts issuing USD-denominated Sukuk
Riyadh – Mubasher: Arabian Centres Company has commenced issuing Shariah-compliant Sukuk in USD, according to a bourse disclosure on Tuesday. The USD-denominated Sukuk will be part of outstanding notes worth $650 million that were issued on 7 …
The Sukuk has been priced at 3.7% yield
13 July 12:10 PM Emaar Properties lists $500m Sukuk on Nasdaq Dubai
Dubai – Mubasher: Emaar Properties has celebrated the listing of a $500 million Sukuk of a 10-year tenor on Nasdaq Dubai. The Sukuk issuance is part of the company's $2 billion trust certificates issuance programme solely listed on Nasdaq Dubai, …
The company will be established with an authorised capital of EGP 100 million
11 July 01:14 PM ADIB Egypt to set up Sukuk firm
Cairo - Mubasher: The board of directors of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) approved a decision to proceed with setting up a Sukuk company.  The company will be established with an authorised capital of EGP 100 million and issued capital …
The total number of Sukuk amounted to 5,000
4 July 04:31 PM Alinma Bank completes offering of SAR 5bn additional Tier 1 Sukuk
Riyadh - Mubasher: Alinma Bank completed the offering of additional Tier 1 Sukuk worth SAR 5 billion through a private placement. The total number of Sukuk amounted to 5,000 at a par value of SAR 1 million each, the bank said in a bourse …
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4 July 02:54 PM Emaar Properties inks final terms to issue $500m Sukuk
Dubai – Mubasher: Emaar Properties has signed the final terms relating to the issuance of $500 million trust certificates with an annual return of 3.7%. Due in 2031, the senior unsecured Sukuk will be issued under the company’s $2 billion Trust …
Bank AlJazira announced that the notes hold a return of 3.950%
29 June 05:07 PM Bank AlJazira concludes $500m USD-denominated Sukuk sale
Riyadh – Mubasher: Bank AlJazira has completed selling USD-denominated Sukuk at a total value of $500 million, according to a bourse disclosure on Tuesday. The volume of the perpetual Tier 1 capital certificates totalled 2,500 Sukuk notes at …
Emaar has set initial price guidance of around 4.25% for the Sukuk
29 June 10:14 AM Emaar Properties expected to raise $500m through Sukuk issuance
Dubai – Mubasher: Emaar Properties is expected to secure up to $500 million through 10-year US dollar-denominated Sukuk, Reuters reported. Emaar has set initial price guidance of around 4.25% for the Sukuk, as shown by a cited document from one of …
Sovereign sukuk will help the government diversify its funding sources
28 June 04:22 PM Egypt's House of Representatives gives final nod to sovereign Sukuk law
Cairo - Mubasher: The Egyptian House of Representatives gave final approval to the draft law of sovereign Sukuk, the Middle East News Agency (MENA) reported on Monday.  The law was passed after being approved by Al-Azhar institution, the Financial …
The Sukuk will be issued under a $2 billion trust certificate issuance programme
28 June 09:31 AM Emaar Properties hires banks for 10-year Sukuk issuance
Dubai – Mubasher: Emaar Properties has hired banks to arrange for the issuance of the US dollar-denominated senior unsecured Sukuk of a 10-year tenor. The Sukuk will be issued under the company's $2 billion trust certificate issuance programme, …
The bank will continue to issue the perpetual Sukuk until 29 June
24 June 10:00 AM Bank AlJazira starts offering USD-denominated Sukuk
Riyadh – Mubasher: Bank AlJazira, through BAJ Sukuk Tier 1 Limited, has started today, 24 June, offering USD-denominated Tier 1 capital certificates at a minimum subscription and par value of $200,000. The bank will continue to issue the perpetual …
Sukuk will be used for diversifying the investor base
22 June 02:02 PM Egypt says assets backing sovereign Sukuk not to be sold or mortgaged
Cairo - Mubasher: The Egyptian Ministry of Finance affirmed that the country's assets backing its planned sovereign Sukuk will neither be mortgaged nor sold.  The sovereign Sukuk will be used as a new financial instrument for diversifying the …
The 36-month funding is covered by a promissory note.
22 June 11:57 AM Al Naqool receives SAR 4.7m financing from Tamweel Aloula
Riyadh - Mubasher: Mohammed Hassan Al Naqool Sons Co. received a SAR 4.7 million Shariah-compliant financing from Tamweel Aloula Company. The funding will be used to purchase equipment in order to boost production capacity, the company said in a …
The value represented 4.72% of the Sukuk total amount
21 June 12:15 PM Satorp’s AATSC redeems SAR 177m of Sukuk
Riyadh – Mubasher: Arabian Aramco Total Services Company (AATSC), a subsidiary of Saudi Aramco Total Refining and Petrochemical Company (Satorp) has redeemed SAR 176.99 million of Sukuk as scheduled every six months. The value represented 4.72% of …
The Sukuk can be redeemed after five years
20 June 04:26 PM Bank Aljazira plans up to $500m USD-denominated Sukuk offering
Riyadh – Mubasher: Bank Aljazira announced that BAJ Sukuk Tier 1 Limited intends to issue USD-denominated Tier 1 capital certificates at a total amount not exceeding $500 million through a private placement. The Sukuk can be redeemed after five …
Aramco completed on 17 June the Sukuk issuance of 30,000 notes
17 June 04:11 PM Aramco raises $6bn through USD-denominated Sukuk offering
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has raised $6 billion by issuing USD-denominated international trust certificates. Aramco completed on 17 June the Sukuk issuance of 30,000 notes at a par value of $200,000 each, …
The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders
17 June 12:37 PM Kuwait's Ahli United Bank lists $600m Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by Ahli United Bank (AUB), a Kuwaiti financial institution. The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders, according to a press release on …
The issuances has a combined order book of over $10.3 billion
16 June 01:04 PM Indonesian government lists $3bn Sukuk issuances on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of the Indonesian government's three Sukuk tranches worth $3 billion, raising the total value of all Sukuk listed by Indonesia on the international financial exchange to $19.75 billion. The …
The bank has issued the Sukuk at 110 basis points
16 June 12:30 PM DIB sells $1bn in five-year Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) has sold five-year Sukuk worth $1 billion after receiving over $2.8 billion in orders for the Islamic bonds, Reuters reported. The bank has issued the Sukuk at 110 basis points (bps) over mid-swaps, …
ACWA Power was able to tighten pricing by 25 bps pa
15 June 02:36 PM ACWA Power raises nearly SAR 3bn via Sukuk issue
Riyadh – Mubasher: ACWA Power has raised SAR 2.8 billion through a senior, unsecured, floating Sukuk rate issuance under the Shariah-compliant Mudaraba-Murabaha structure, according to a press release on Tuesday. The Islamic financing notes hold a …
Dubai Islamic Bank
14 June 12:43 PM DIB to issue five-year USD-denominated Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) has reportedly hired seven banks to manage a US-dollar-denominated five-year Sukuk offering, Reuters reported. The size of the offering is expected to be no less than $500 million. Alongside DIB, Arab …
Takaful premiums have increased at a compound annual rate of 6.8%
10 June 02:36 PM Islamic insurance growth to remain healthy in GCC – Moody's
Mubasher: Islamic insurance, Takaful, premiums are expected to grow moderately over the coming two to three years as more GCC, Southeast Asian, and African countries introduce compulsory health cover, according to Moody's Investors Service. Growth …
The bank said the minimum subscription value is SAR 1 million
10 June 11:06 AM Alinma Bank announces details of SAR-denominated Sukuk issue
Riyadh – Mubasher: Alinma Bank announced that investors can subscribe to the additional Tier 1 SAR-denominated Sukuk offering as of 10 June and until 8 July, according to a disclosure to Tadawul on Thursday. The bank said the minimum subscription …
Alinma Bank aims to strengthen its capital base
9 June 05:00 PM Alinma Bank to issue SAR-denominated Sukuk
Riyadh – Mubasher: Alinma Bank plans to issue SAR-denominated additional Tier 1 Sukuk. The bank will later announce the number and value of the Sukuk issue, according to a bourse filing on Wednesday. Alinma Bank aims to strengthen its capital base …