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Islamic Finance

The Sukuk has a 3.326% annual fixed return rate payable semi-annually.
22 October 10:35 AM ANB offers $750m in Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) announced it has completed offering US dollar-denominated Tier 2 capital Sukuk worth $750 million. The settlement of the Sukuk issue will take place on 28 October 2020, the bank said to the Saudi Stock …
Both of the Sukuk listing price and return will be subject to market conditions.
21 October 10:34 AM ANB starts issuing US dollar-denominated Tier 2 capital Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) has begun issuing US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally. The offering start date is 21 October 2020 and the end date is …
The planned Sukuk is part of a $3 billion Sukuk programme
20 October 04:08 PM Etihad Airways plans to sell US dollar transition Sukuk
UAE - Mubasher: Etihad Airways, wholly owned by the Abu Dhabi government, seeks to issue US dollar-denominated 'transition' Sukuk, whose proceeds are used by companies to adopt more environmentally and sustainable operations, Reuters reported. …
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19 October 04:15 PM Moody's assigns Baa3(hyb) Tier 2 ratings to ANB’s trust certificate
Riyadh – Mubasher: Moody's Investors Service has assigned a Baa3(hyb) foreign currency long-term subordinated rating to Arab National Bank (ANB) Sukuk Ltd's planned issuance of backed US dollar-denominated subordinated certificates with a …
The Sukuk issue will support the bank’s capital base and fulfill its financial and strategic needs.
19 October 10:18 AM ANB plans issuing US dollar-denominated Tier 2 capital Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) intends to issue US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally. The lender’s board approved on 22 September 2020 the Sukuk …
Both of the Sukuk listing price and return are subject to market conditions.
19 October 09:34 AM Banque Saudi Fransi starts issuing SAR-denominated Additional Tier 1 Sukuk
Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Monday said it began issuing SAR-denominated Additional Tier 1 Sukuk through a private placement offer. The number and value of any Sukuk to be offered will be determined based on market conditions. …
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18 October 09:37 AM Banque Saudi Fransi plans issuing SAR-denominated Additional Tier 1 Sukuk
Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Sunday said it plans to issue SAR-denominated Additional Tier 1 Sukuk to strengthen its capital base in accordance with the Basel III framework agreement. The number and value of the potential Sukuk …
The loan will finance Porto October’s 1.38 million sqm project
15 October 12:28 PM Porto Group inks EGP 500m Musharakah deal with Banque Misr
Cairo – Mubasher: Porto Group Holding signed a funding agreement to guarantee a loan for its subsidiary Porto October. The EGP 500 million long-term Musharakah agreement was signed with Banque Misr – Islamic Banking Sector, the company said in a …
The credit facility will enable the company to redeem the Sukuk
15 October 09:38 AM Dana Gas enters $90m credit facility agreement with Mashreq Bank
UAE – Mubasher: Dana Gas has signed a credit facility agreement worth $90 million with Mashreq Bank, according to a press release on Thursday. The one-year facility, which could be extended for additional four years, is priced at an initial 3% per …
The Sukuk issuance aims to enhance the bank's capital base
11 October 04:06 PM KIB obtains CMA's approval to $300m Sukuk issuance
Mubasher: The Capital Market Authority (CMA) has approved the request of Kuwait International Bank (KIB) to issue Tier 2 capital Sukuk for an amount of up to $300 million. The Sukuk issuance aims to enhance the bank's capital base as per the …
The bonds or Sukuk are valued at $1 billion in aggregate
7 October 10:33 AM Tabreed authorises board to issue $1bn bonds and/or Sukuk
Dubai – Mubasher: National Central Cooling Company (Tabreed) has authorised the board for 12 months to issue non-convertible bonds and/or Sukuk in one or more tranches to be offered to qualified investors. The bonds or Sukuk are valued at $1 …
The Sukuk issuance was 2.4 times oversubscribed
6 October 12:07 PM Emirates Islamic lists $500m Sukuk on Nasdaq Dubai
Dubai – Mubasher: Emirates Islamic Bank rang the bell to celebrate the listing of a $500 million Sukuk on Nasdaq Dubai, according to a press release on Tuesday. The Sukuk issuance was 2.4 times oversubscribed, with a 1.827% profit which is the …
Each fund has its own segregated assets
4 October 09:54 AM Shuaa launches three Sharia-compliant funds
Dubai – Mubasher: Shuaa Capital has launched three open-ended Sharia-compliant funds, which have secured commitments valued at $75 million, according to a press release on Sunday. The company has unveiled the SHUAA High Yield Sukuk Fund, Nujoom …
Saudi Arabia had total Islamic finance assets of $339 billion as of March 2020.
30 September 02:24 PM KSA boosts position as world’s biggest Islamic finance market - Moody's
Riyadh – Mubasher: Moody’s Investors Service said Saudi Arabia will continue a shift to more Shariah-compliant finance over the next 12-18 months as corporates and households increasingly use Islamic products, even as low oil prices and the …
The Sukuk will be offered for 57 months
23 September 05:39 PM EFG Hermes lists Ijara Sukuk on EGX
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee announced the listing of Ijara Sukuk issued by EFG Hermes Securitization Company. The Ijara Sukuk is compliant with Islamic Sharia, tradable, and non-convertible, according to a …
The Sukuk has a profit rate of 1.827%
21 September 01:37 PM Emirates Islamic closes $500m Sukuk
Dubai – Mubasher: Emirates Islamic Bank has successfully closed the issuance of five-year Sukuk worth $500 million from its $2.5 billion Certificate Issuance Programme. To be listed on Nasdaq Dubai and Euronext Dublin, the Sukuk issuance saw …
The benchmark size deal is expected to close on Wednesday
16 September 10:01 AM Emirates Islamic starts marketing 5-year Sukuk
Dubai – Mubasher: Emirates Islamic Bank began on Wednesday marketing US dollar-denominated five-year Sukuk, with initial price guidance of about 170 basis points over mid-swaps, Reuters reported. The benchmark size deal of at least $500 million is …
The banks will arrange for investor calls
15 September 01:40 PM Emirates Islamic hires banks for US dollar-denominated Sukuk issuance
Dubai – Mubasher: Emirates Islamic Bank has hired banks to arrange the issuance of US dollar-denominated five-year Sukuk, Reuters reported. The hired banks are Emirates NBD Capital, HSBC, The Islamic Corporation for the Development of the Private …
Saudi Electricity Company
13 September 10:23 AM SEC issues $1.3bn dual-tranche International Green Sukuk
Riyadh – Mubasher: Saudi Electricity Company (SEC) has issued $1.3 billion International Green Sukuk, split into two tranches of five and ten years, with fixed profit rates of 1.74% and 2.413%, respectively.  Each of the two tranches is valued at …
SEC will use the Sukuk issue to finance certain eligible green projects
10 September 02:32 PM Moody's assigns A2 rating to SEC’s green Sukuk issue; outlook negative
Riyadh – Mubasher: Moody's Investors Service has assigned an A2 rating to the proposed senior unsecured green Sukuk certificates to be issued by Saudi Electricity Global SUKUK Company 5, a special purpose vehicle (SPV) established in the Cayman …
SEC will use the Sukuk issue to finance certain eligible green capital projects
10 September 10:06 AM SEC starts issuing International Green Sukuk
Riyadh – Mubasher: Saudi Electricity Company (SEC) said it began issuing US dollar-denominated fixed-rate RegS Senior Unsecured International Green Sukuk to finance certain eligible green capital projects. The issue starts on 10 September 2020 and …
They will not be for public subscription
9 September 11:24 AM Tabreed plans to issue $1bn bonds
Dubai – Mubasher: National Central Cooling Company (Tabreed) will authorise the board to issue bonds or Sukuk valued at $1 billion in one or more tranches to be offered to qualified investors. The bonds or Sukuk will be issued with a maturity date …
The Sukuk issuance amount will be determined as per market conditions and SEC’s requirements
9 September 10:24 AM SEC to hold calls with investors ahead of potential Sukuk issuance
Riyadh – Mubasher: Saudi Electricity Company (SEC) will begin holding calls with fixed-income investors in preparation for potential issuance of US dollar-denominated fixed-rate RegS Senior Unsecured International Green Sukuk. The issuance amount …
The Sukuk and bonds have the lowest interest rates in Dubai's history
3 September 04:50 PM Dubai completes $2bn Sukuk, bonds issuance
UAE - Mubasher: The Dubai government has completed the issuance of 10-year Islamic Sukuk worth $1 billion and 30-year government bonds of $1 billion, according to the Dubai media office. The Sukuk and bonds have the lowest interest rates in …
The company would use the sale proceeds to pay $309m in Sukuk
3 September 10:08 AM Dana Gas in talks with US firm to sell Egyptian assets
Abu Dhabi – Mubasher: The UAE's Dana Gas is holding negotiations with Texas-headquartered IPR Energy to sell its Egyptian assets, three sources told Reuters. These talks came ahead of the Emirati energy producer's repayment of some $300 million in …