UAE – Mubasher: Nasdaq Dubai has welcomed the listing of $1 billion sukuk and a $300 million conventional bond issued by DP World. With sukuk and conventional bond listings of $8.09 billion, DP World is the largest UAE debt issuer on Nasdaq Dubai …
Mubasher: Kuwait-based Warba Bank has obtained the Central Bank of Kuwait’s (CBK) preliminary approval to issue sukuk at a value not exceeding $500 million under $2 billion sukuk programme. The bank will obtain the CBK’s final approval after …
Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced that its unit Sarwa Sukuk Company has obtained a sukuk securitisation licence from the Egyptian Financial Regulatory Authority (FRA). The Sharia-compliant sukuk issuance …
UAE – Mubasher: DP World, a global port operator based in Dubai, is looking to raise around $700 million via conventional and Islamic bond issues on Thursday, Reuters reported, citing documents issued by banks involved in the deal. The port …
By: Islam Fadl Cairo – Mubasher: Islamic funding injected by banks are expected to increase by EGP 9 billion during the second quarter of 2019, head of the Egyptian Islamic Finance Association (EIFA), Mohamed El-Beltagy, told Mubasher on …
Riyadh – Mubasher: Savola Group on Tuesday announced that it had raised SAR 1 billion ($267 million) in sukuk, according to Reuters. Arranged by HSBC’s Saudi unit, the sukuk sales offered investors a profit rate equivalent to 160 basis points over …
UAE – Mubasher: DP World, a global port operator based in Dubai, has appointed three international banks to arrange a series of investor meetings in Hong Kong, Singapore, and London, starting Wednesday, 10 July, Bloomberg News reported. The banks, …
Riyadh – Mubasher: Al Kathiri Holding Company has obtained Riyad Bank’s approval to renew and increase a sharia-compliant credit facility agreement. The credit facility amounted to SAR 4 million after the addition of SAR 1 million to the …
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB), listed on the Abu Dhabi Securities Exchange (ADX), on Wednesday said it has raised $500 million in its debut Additional Tier 1 (AT1) sukuk at the lowest price of 5%. Accordingly, the bank’s AT1 …
Cairo – Mubasher: Egypt’s finance ministry plans to raise between $4 billion and $7 billion in fiscal year 2019/2020, the country’s finance minister Mohamed Maait told Bloomberg TV. The finance ministry aims to offer green bonds and Islamic …
Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) announced that its 50%-owned subsidiary, Sahara & Ma’aden petrochemicals company (SAMAPCO), signed an Islamic facility agreement with a number of local banks. The SAR 2.25 …
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB), listed on the Abu Dhabi Securities Exchange (ADX), plans to raise $500 million through its planned debt sale, deputy chief executive Ahmed Saad told Reuters. This will consequently boost the bank’s …
Riyadh – Mubasher: Saudi Kayan Petrochemical Company (Saudi Kayan) has signed a Sharia-compliant Murabaha financing facility with National Commercial Bank with a total value of $2 billion (SAR 7.5 billion). The seven-year facility, which was …
Riyadh – Mubasher: National Petrochemical Co (Petrochem) announced it has fully redeemed SAR 1.2 billion ($4.5 billion) sukuk. The financial impact of the process will be realised in the financial results of the second quarter of 2019, the company …
Riyadh – Mubasher: Arabian Aramco Total Services Company (AATSC) on Thursday announced the partial redemption of sukuk, with an amount of SAR 140.996 million (3.76% of the sukuk’s face value), according to a bourse statement. The company added …
UAE – Mubasher: Net income from Abu Dhabi-headquartered commercial and Islamic banks amounted to AED 8 billion during the first quarter of 2019, according to recent data by the Statistics Centre − Abu Dhabi (SCAD). On an annual basis, net …
Riyadh – Mubasher: Savola Group will start offering its first sukuk issuance under the Sukuk Program on Wednesday, 19 June. Ending on 31 August, the sukuk are offered by way of a private placement, according to a filing to the Saudi Stock Exchange …
Riyadh – Mubasher: Saudi Arabia plans to issue Islamic bonds or sukuk by the end of 2019, Reuters reported. “We are planning to issue a sukuk in dollars before the end of this year,” Fahad Al Saif, head of the kingdom’s debt management office, …
Cairo – Mubasher: The Egyptian Financial Regulatory’s (FRA) chairman Mohamed Omran will inaugurate the annual conference of the Egyptian Islamic Finance Association (EIFA) on 20 June. The conference will discuss mechanisms of sukuk finance and the …
UAE – Mubasher: The UAE Securities and Commodities Authority (SCA) has approved to register around AED 7 billion bonds and sukuk in local securities markets in 2018, Emirates News Agency (WAM) reported. Almost five national companies have issued …
UAE – Mubasher: The First Group, a leading real estate developer and investor based in Dubai, is planning to issue $135 million in sukuk, a company spokeswoman told Reuters. The group has appointed Shuaa Capital to arrange the anticipated …
Mubasher: Kuwait International Bank (KIB) on Tuesday announced that it received the proceeds of $300 million AT1 sukuk. The sukuk offering was listed on the Irish Stock Exchange (Euronext Dublin), according to a bourse statement. In May, the …
Dubai – Mubasher: The board of directors of Dubai Islamic Bank (DIB) has recommended during the bank’s general meeting to consider the full acquisition of Noor Bank’s shares. The shareholders in DIB will weigh up the acquisition of 100% stake in …
Mubasher: KFH Capital, the investment arm of Kuwait Finance House (KFH), has been placed in leading positions among regional and international sukuk issuers, the company’s chief investment banking officer said. KFH Capital acted as one of the …
Mubasher: Kuwait's KFH Capital has finalised the arrangement of its first sukuk issue transaction for the Saudi Telecom Company (STC), valued at $1.25 billion. Abdullah Sulaiman Al Haddad, chief investment banking officer of KFH Capital, said that …
