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29 January 10:37 AM

Islamic Finance

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 …
Macroeconomics
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 …
Banking and 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 …
Companies Investments
Talaat Moustafa Group logged net profits of EGP 1.37 billion in nine months
20 January 01:47 PM Talaat Moustafa Group to issue sukuk in April
By: Abdullah Bedeir Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) is looking to issue sukuk by April, the company’s CEO and managing director Hisham Talaat Mostafa said. Over the course of 2020, the real estate developer aims to …
Sukuk and Islamic Finance
The board's decision was approved by circulation
16 January 03:12 PM Gulf Navigation’s board agrees on AED 125m Sukuk issue
Dubai - Mubasher: The board of Gulf Navigation Holding, the only maritime and shipping company listed on the Dubai Financial Market (DFM), approved by circulation to issue Sukuk worth AED 125 million. The announcement came during the board’s …
Banking and Finance
The Sukuk issuance will have a tenor of five years
16 January 09:29 AM GFH confirms Reuters news on $500m Sukuk issue
Dubai – Mubasher: GFH Financial Group on Thursday confirmed to its shareholders the news published by Reuters on 13 January 2020. GFH clarified that it plans to issue five-year-tenor Sukuk. The issuance builds on the shareholders’ resolution, …
Sukuk and Islamic Finance
Sukuk proceeds will be used to acquire real estate assets in Europe
13 January 12:44 PM First asset-backed SAR 1bn Sukuk launched in Saudi Arabia
Riyadh – Mubasher: Neo Merchants Capital launched a domiciled asset-backed Sukuk programme, the first asset-backed SAR-denominated Sukuk programme in Saudi Arabia issued by a special purpose entity licensed by the Saudi Capital Market Authority …
Real estate
Mumtalakat is set to hold meetings with investors
7 January 10:06 PM Bahrain’s SWF hires banks for USD-dominated sukuk issuance
Mubasher: Mumtalakat Holding Company, the sovereign wealth fund (SWF) of Bahrain, has hired banks to arrange fixed income investor meetings ahead of the issuance of USD-dominated sukuk, Reuters reported on Tuesday. The hired banks include …
Banking and Finance
Saudi Capital Market Authority
1 January 05:49 PM CMA approves Alinma Saudi Government Sukuk ETF Fund
Riyadh – Mubasher: The Capital Market Authority (CMA) has issued its resolution approving Alinma Investment Company’s request to offer "Alinma Saudi Government Sukuk ETF Fund - Short Maturity" units on the Saudi Stock Exchange (Tadawul) as an …
Trading Activities
GFH is a Bahrain-based company listed on 3 markets
29 December 2019 05:03 PM GFH shareholders nod to $500m Sukuk issue
Mubasher: The shareholders of GFH Financial Group approved the board’s proposal to issue Sukuk of up to $500 million in one or more issuances. During the ordinary general meeting (OGM) on Sunday, 29 December, the shareholders also approved to …
Board of Directors
The Sharia-compliant finance facility agreement has a duration of 8 years
24 December 2019 11:16 AM Saudi Kayan Petrochemical agrees SAR 1.5bn deal with BSF
Riyadh – Mubasher: Saudi Kayan Petrochemical Company has signed an eight-year Murabaha finance agreement with Banque Saudi Fransi (BSF), according to a statement to the Saudi Stock Exchange (Tadawul). The Sharia-compliant SAR 1.5 billion finance …
Sukuk and Islamic Finance
Riyad Capital was the manager of the SAR 300 million Sukuk issuance
23 December 2019 01:50 PM Bidaya Home Finance issues SAR 300 million Sukuk
Riyadh – Mubasher: Bidaya Home Finance has launched SAR 300 million two-year Sukuk under its recently established SAR 1 billion Sukuk program. This is the fourth Sukuk issuance for the company in the domestic Sukuk market, according the company’s …
Sukuk and Islamic Finance
The value of the scheduled semi-annual redemption was SAR 147 million
23 December 2019 00:05 PM AATSC announces Sukuk partial redemption
Riyadh – Mubasher: Arabian Aramco Total Services Company (AATSC) announced the partial redemption of Sukuk on Monday 23 December. The scheduled semi-annual redemption was with a distribution amount of around SAR 147 million, represents 3.92% of …
Trading Activities
The transaction is dually funded in US dollars and Euros
22 December 2019 04:03 PM TDB signs $450m Mideast-focused syndicated term financing
UAE– Mubasher: The Eastern and Southern African Trade and Development Bank (TDB) has successfully closed a Multi-Tranche Syndicated Term Financing, conventional and Islamic, worth $272 million and EUR 160.200 million, equivalent to a combined …
Sukuk and Islamic Finance
The platform allows investors to buy, sell, and hold digital diversified Sharia-compliant assets
18 December 2019 01:22 PM CoinMENA seeks opportunities in digital assets, Islamic fintech
Mubasher: Bahrain-based CoinMENA has appointed Shariyah Review Bureau (SRB) as an outsourcing facility to manage and supervise the Sharia certification and Sharia audit services for its digital asset platform. Created to help investors at both the …
Sukuk and Islamic Finance
The agreement is set to reduce debt and finance costs for Mobily
15 December 2019 11:44 AM Mobily signs SAR 7.6bn Murabaha deal with local banks
Riyadh – Mubasher: Etihad Etisalat Company (Mobily) announced on Sunday the signing of a SAR 7.6 billion refinancing Murabaha facility agreement with a group of Saudi Banks. Riyad Bank, Arab National Bank (anb), Banque Saudi Fransi (BSF), Saudi …
Companies Investments
Central Bank of Egypt
9 December 2019 02:02 PM Egypt mulls 3 green, Islamic bond offerings in FY19/20
Cairo – Mubasher: Egypt is mulling the issuance of three bond offerings during fiscal year 2019/2020, Reuters reported on Monday, citing the finance minister Mohamed Maait as saying. The potential issuance include green, variable-yield, and …
Bonds
This move is part of the real estate developer’s efforts to diversify its financing sources
8 December 2019 11:21 AM Talaat Moustafa’s unit gears up to issue EGP 2bn sukuk
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) announced that its subsidiary, Arab Company for Projects and Urban Development, is finalising the required procedures to issue sukuk worth EGP 2 billion in the coming period.   This …
Real estate
The agreement is set to allow for the exchange of knowledge and experience
4 December 2019 04:24 PM Dubai IEDC, Saudi Islamic Economics Institute sign cooperation pact
Mubasher: The Dubai Islamic Economy Development Centre (IEDC) has signed a cooperation agreement with the Islamic Economics Institute at King Abdul Aziz University (KAU) in Saudi Arabia. IEDC aims at expanding its network of strategic partners in …
Sukuk and Islamic Finance
Nasdaq Dubai became a multi-currency listing hub
4 December 2019 00:33 PM Nasdaq Dubai welcomes listing of EUR 1bn green sukuk by Saudi IsDB
Dubai – Mubasher: Nasdaq Dubai has welcomed the listing of EUR 1 billion green sukuk by the Islamic Development Bank (IsDB), marking the bank’s first green listing issued under its Sustainable Finance Framework. IsDB’s sukuk follows two other …
Sukuk and Islamic Finance
CIAF Leasing will be the issuer of $50 million worth of sukuk
3 December 2019 03:43 PM Egypt to issue 1st corporate sukuk in weeks – FRA official
Cairo – Mubasher: Egypt will issue its first corporate sukuk in the coming weeks, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel Fadil, told Reuters on Tuesday. The aircraft leasing …
Macroeconomics
KIB will manage QIIB’s $300 million sukuk issuance
2 December 2019 04:42 PM KIB named as manager of QIIB’s $300m sukuk issuance
Mubasher: Kuwait International Bank (KIB) was chosen to manage for Qatar International Islamic Bank’s (QIIB) Sukuk issuance, the first of its kind in Qatar, according to the Kuwaiti lender’s press release. KIB will manage QIIB’s $300 million …
Sukuk and Islamic Finance
ICD Headquarters - Jeddah, Saudi Arabia
27 November 2019 01:02 PM ICD signs $10m finance deal with Uzbekistan’s AAB
Riyadh – Mubasher: The Islamic Corporation for the Development of the Private Sector (ICD) has signed a $10 million line of financing agreement with Asia Alliance Bank (AAB), as well as an advisory agreement on launching an Islamic Window on …
Banking and Finance