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Islamic Finance

The total Sukuk issuance retreated by 12% in H1-20
6 August 12:44 PM Sukuk issuance to decrease 5% in 2020 - Moody's
Mubasher: Sukuk issuance will contract by 5% to around $170 billion in 2020 due to the coronavirus (COVID-19) pandemic, which is set to be limited by the financing needs in the GCC countries due to low oil prices, according to Moody's Investors …
The Sukuk aims to reinforce the bank's capital
5 August 03:50 PM Khaleeji Commercial Bank finalises $159m Sukuk issuance
Dubai - Mubasher: Khaleeji Commercial Bank has closed $159 million Sukuk issuance fully covered by GFH Financial Group as the sole subscriber, according to a press release on Wednesday. Issued following the approval of regulatory authorities and …
The transaction will significantly strengthen the lender’s financial position
3 August 09:31 AM Khaleeji Commercial Bank issues $159m Sukuk
Dubai - Mubasher: Khaleeji Commercial Bank has successfully issued Sukuk worth $159 million, subject to approvals from regulatory authorities and the extraordinary general meeting (EGM). Shareholders supported the bank to issue Additional Tier 1 …
The Nile Delta Sukuk will mature on 31 October
26 July 10:05 AM Dana Gas appoints financial adviser for Nile Delta Sukuk
Abu Dhabi – Mubasher: Dana Gas has appointed Houlihan Lokey as its financial adviser for its Nile Delta Sukuk worth $379.6 million (AED 1.393 billion). The Nile Delta Sukuk matures on 31 October 2020, according to a press release on Sunday. It is …
The par value of each bond is SAR 1 million
23 July 10:08 AM SABB offers SAR 5bn local Sukuk
Riyadh - Mubasher: Saudi British Bank (SABB) has completed the first offering of Tier II SAR-denominated Sukuk for private placement in Saudi Arabia under its local Sukuk programme at a total value of SAR 5 billion. The total number of Sukuk …
Sarwa Capital achieved net profits of EGP 93.78 million in Q1-20
16 July 05:55 PM Sarwa Capital's unit eyes EGP 2.5bn Sukuk issuance
Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced that its subsidiary Sarwa Sukuk is set to issue EGP 2.5 billion Sukuk. Sarwa Sukuk has submitted the prospectus for the issuance to the Financial Regulatory Authority …
Amer Group achieved net profits of EGP 10.65 million in Q1-20
16 July 12:13 PM Amer inks protocol with Misr Capital, Sarwa to study Sukuk issuance
Cairo – Mubasher: Amer Group Holding Co announced signing a protocol of cooperation with Sarwa Promotion and Underwriting and Misr Capital Investments to conduct an initial study for the company’s first Sukuk issuance. Under the protocol, the two …
This listing is DP World’s inaugural perpetual issuance
15 July 01:09 PM DP World lists $1.5bn perpetual Sukuk on Nasdaq Dubai
Dubai - Mubasher: DP World has rung the market-opening bell to celebrate the listing of $1.5 billion perpetual Sukuk on Nasdaq Dubai, according to a press release on Wednesday. Proceeds from the Sukuk issuance will be utilised for general …
The issuance will target experienced investors residing in Saudi Arabia
6 July 10:25 AM SABB announces 1st local Sukuk issuance
Riyadh -Mubasher: The Saudi British Bank (SABB) announced on Monday the first offering of Tier II SAR denominated Sukuk for private placement under its newly-established local Sukuk programme. The issuance size shall be determined as per market …
The offering aims to meet SABB’s financial and strategic needs
5 July 10:42 AM SABB sets up local Sukuk programme
Riyadh -Mubasher: The Saudi British Bank (SABB) intends to update and amend its previously established international Sukuk programme and set up a local Sukuk programme. Through the two Sukuk programmes, SABB will issue and offer senior …
The Sukuk programme is valued at a maximum KWD 2 billion
2 July 01:01 PM KIB obtains central bank’s initial approval for Sukuk issuance
Mubasher: Kuwait International Bank (KIB) has received preliminary approval from the Central Bank of Kuwait (CBK) on 30 June for a Sukuk issuance programme. The value of the issuance is up to KWD 2 billion, or the equivalent in other currencies. …
Indonesia is the largest Sukuk issuer on Nasdaq Dubai
1 July 01:38 PM Indonesia lists $2.5bn Sukuk on Nasdaq Dubai
Dubai - Mubasher: Nasdaq Dubai has welcomed Indonesia's listing of three Sukuk at a total value of $2.5 billion, oversubscribed 6.7 times by investors including international investors from Asian and Middle East countries. Aiming to fund economic …
The issuance was a tap on a $1 billion Sukuk
30 June 12:51 PM DIB lists $300m Sukuk on Nasdaq Dubai
Dubai - Mubasher: Nasdaq Dubai has welcomed Dubai Islamic Bank's (DIB) listing of $300 million Sukuk, aiming to support the bank's customers amid the challenging market conditions. The issuance was a tap on a $1 billion Sukuk listed by the bank on …
The Sukuk is the first ever AAA-rated sustainability Sukuk
28 June 02:37 PM IsDB lists $1.5bn Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the $1.5 billion Sukuk listing of the Islamic Development Bank (IsDB), according to a press release on Sunday. The IsDB seeks to raise funds to supports the coronavirus (COVID-19) relief initiatives, …
DP World is expected to sell perpetual Sukuk at 6.125%
25 June 10:11 AM DP World forecast to sell $1.5bn perpetual Sukuk
Dubai - Mubasher: DP World is expected to sell perpetual Sukuk of $1.5 billion at 6.125%, Reuters reported, citing a document published on Wednesday, 24 June. DP World has set the price guidance after it began marketing the Sukuk, which …
The five-year Sukuk has attracted 150 investors
24 June 12:01 PM Sharjah Islamic Banks lists $500m Sukuk on Nasdaq Dubai
Abu Dhabi – Mubasher: Nasdaq Dubai has welcomed Sharjah Islamic Bank's listing of a $500 million Sukuk to support its activities and strategic development. Oversubscribed 7.2 times, the five-year Sukuk has attracted 150 regional and international …
The bank has set a margin of return at 240 bps
24 June 09:42 AM DIB sells $300m in 2026 Sukuk tap
Dubai - Mubasher: Dubai Islamic Bank (DIB) has sold $300 million in the reopening of its existing Sukuk issuance due in 2026, according to Reuters. The bank has set a margin of return at 240 basis points (bps) over midswaps for the reopening of …
The bank has tightened the price guidance for the notes
23 June 01:24 PM DIB likely to sell $200m worth of its Sukuk
Dubai - Mubasher: Dubai Islamic Bank (DIB) is forecast to sell an instrument of over $200 million of its existing Sukuk issuance due in 2026, Reuters reported on Tuesday. The bank has tightened the price guidance for the notes at 240-245 basis …
A sum of SAR 138.7 million was distributed
22 June 10:59 AM Arabian Aramco Total Services partially redeems sukuk
Riyadh - Mubasher: Arabian Aramco Total Services Company (AATSC), a subsidiary of Saudi Aramco Total Refining and Petrochemical Company (SATORP), on Monday announced the partial redemption of its semi-annually scheduled Sukuk. A sum of SAR 138.7 …
Emirates NBD's investment banking arm was the joint lead manager
21 June 04:16 PM IsDB issues first sustainability $1.5b Sukuk - Emirates NBD Capital
Dubai - Mubasher: Emirates NBD Capital has closed the first US dollar sustainability Sukuk of the Islamic Development Bank (IsDB) at a total value of $1.5 billion. Emirates NBD's investment banking arm was the joint lead manager and bookrunner for …
The Sukuk issuance will be used to enhance the bank's liquidity
18 June 11:41 AM SIB's $500m Sukuk oversubscribed 7.2 times
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) successfully issued five-year Sukuk worth $500 million (AED 1.83 billion), which was 7.2 times oversubscribed, according to the Emirates News Agency (WAM). The Sukuk saw strong demand from local and …
DIB is the leading UAE-based Sukuk issuer
16 June 10:20 AM Nasdaq Dubai lists DIB's $1bn Sukuk
UAE - Mubasher: Nasdaq Dubai has welcomed Dubai Islamic Bank's (DIB) $1 billion Sukuk listing, according to a press release on Tuesday. Aiming to reinforce the DIB's measures to support customers and companies amid the challenging market …
The Sukuk matured on 11 June 2020
14 June 11:33 AM Najran Cement redeems SAR 355m Sukuk
Riyadh – Mubasher: Najran Cement Company on Sunday announced that it has fully paid off the existing Sukuk worth SAR 355 million. The payment process was financed via a SAR 355 million Sharia-compliant loan from Bank AlJazira that was received on …
Islamic economy contributed 9.9% of the emirate's economy in 2018
14 June 09:52 AM Islamic economy contributes AED 41.8bn to Dubai's GDP
UAE - Mubasher: The Islamic economy's contribution to Dubai's gross domestic product (GDP) grew by 2.2% to AED 41.8 billion in 2018, compared to AED 40.95 billion in 2017, Dubai media office reported, citing the latest figures by the Dubai …
SIB has a lending relationship with the hired banks
11 June 09:35 AM Sharjah Islamic Bank appoints banks to sell $500m Sukuk
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) has hired banks to sell benchmark US dollar-denominated Sukuk, which would be valued at $500 million, sources reportedly told Reuters. The $500-million projected size of the issuance could increase …