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Islamic Finance

The issuance is part of a Sukuk programme at a maximum value of $2 billion
27 May 03:56 PM Warba Bank receives regulatory approval for KWD 150m Sukuk
Mubasher: Warba Bank has received approval from the Central Bank of Kuwait and the Capital Markets Authority (CMA) for the second issuance of Sukuk at a value not exceeding KWD 150 million. The issuance is part of a Sukuk programme at a maximum …
The outlook on all ratings was changed to ratings under review
26 May 04:48 PM Moody’s downgrades Arabian Centres ratings
Riyadh – Mubasher: Moody’s Investors Service has downgraded Arabian Centres Company's (ACC) corporate family rating (CFR) to ‘Ba2’ from ‘Ba1’. The rating on the $500 million Sukuk, which was issued by Arabian Centres Sukuk Limited and due in 2024, …
Riyad Bank and MIS signed the finance agreement on 4 May
5 May 12:54 PM MIS signs SAR 290m Islamic finance deal
Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has signed on Monday an Islamic finance agreement with Riyad Bank. The renewable one-year finance facility is valued at SAR 290 million, according to a company statement to the Saudi …
Dividends will be distributed at SAR 0.0674 per unit
4 May 01:02 PM Albilad Sovereign Sukuk ETF announces dividends
Riyadh – Mubasher: Albilad Capital announced the distribution of cash dividends to the unitholders of Albilad Saudi Sovereign Sukuk ETF for April 2020. The cash dividends stand at SAR 242,637, according to a statement to the Saudi Stock Exchange …
The banks' investments in stocks were lowered to AED 9.1bn in March
3 May 12:32 PM UAE banks slash bond, stock investments in March
UAE – Mubasher: Banks operating in the UAE have cut their monthly investments in debt securities to around AED 228.2 billion ($62.14 billion) in March 2020, according to data issued by the Central Bank of the UAE (CBUAE).  In February 2020, the …
Capital Market Authority (CMA)
30 April 12:36 PM Mudaraba Fintech application receives experimental permit
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has granted Mudaraba Capital company a financial technology experimental permit (ExPermit), according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday. The permit allows …
Sukuk trading suspension will begin on 15 June 2020
27 April 10:56 AM Riyad Bank to redeem SAR 4bn Sukuk
Riyadh – Mubasher: Riyad Bank plans to redeem its SAR 4 billion ten-year Sukuk in full at face value on 24 June 2020. The Sukuk, issued on 24 June 2015, has an original maturity of ten years, due on 24 June 2025. In accordance with the Sukuk's …
The Sukuk is valued at $200 million
23 April 02:16 PM AUB Kuwait to pay $5.5m dividends to Ahli United Sukuk
Mubasher: Ahli United Bank – Kuwait (AUB Kuwait) will distribute the seventh periodic dividends worth $5.50 million to the permanent Sukuk shareholders of the Ahli United Sukuk Limited Company.  The total value of the Sukuk is $200 million, with a …
Photo Archive
22 April 02:43 PM ACWA Power plans $1bn Sukuk issuance
Riyadh – Mubasher: ACWA Power International plans to raise about SAR 3.75 billion ($1 billion) from a Sukuk sale, Bloomberg reported citing unnamed sources. The company is reportedly in talks with a number of banks in Saudi Arabia to discuss the …
The bought back Sukuk will be canceled
22 April 12:23 PM Dana Gas buys back $18m of Nile Delta Sukuk
Abu Dhabi – Mubasher: Dana Gas has repurchased around $17.8 million of 4% Nile Delta Sukuk Ltd certificates, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Wednesday. The company referred that the bought back …
The shareholders have authorised the board to set the date of issuance
21 April 12:27 PM Ajman Bank's OGM approves $150m non-convertible Sukuk
Dubai – Mubasher: The ordinary general meeting (OGM) of Ajman Bank has approved issuing $150 million Tier 1 non-convertible Sukuk, according to the bank's disclosure to the Dubai Financial Market (DFM) on Tuesday. During the OGM, convened on …
The company logged AED 186 million in EBITDA
19 April 12:01 PM Shuaa Capital arranges AED 125m Sukuk for GNH
Dubai – Mubasher: Shuaa Capital is working on a number of deals, including acting as lead arranger on AED 125 million Sukuk for Gulf Navigation Holding (GNH) through a private placement. “SHUAA’s management team is committed to continuing to …
Ministry of Finance - Saudi Arabia
16 April 06:05 PM Saudi Arabia prices $7bn int’l note issuance
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) announced the receipt of subscriptions from investors for its seventh international issuance under the kingdom’s global medium-term note programme, through the National Debt Management Center. …
EFG Hermes acted as the financial advisor
13 April 06:07 PM Four banks, Saudi investor buy Sukuk issued by Talaat Moustafa’s unit
By: Islam Fadl Cairo – Mubasher: Four banks and a Saudi investor have participated in covering the Sukuk issuance issued by Talaat Moustafa Group Holding’s subsidiary Arab Company for Projects and Urban Development. The Egyptian Financial Group …
Capital Market Authority
12 April 10:20 AM CMA approves AlJazira Sukuk Fund
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the public offer by AlJazira Capital Company of AlJazira Sukuk Fund. The approval of the fund should never be considered as a recommendation to subscribe in the fund, …
Sukuk received ‘A+’ rating by MERIS
8 April 05:17 PM EFG Hermes issues EGP 2bn Sukuk for Talaat Moustafa’s unit
Cairo – Mubasher: The Egyptian Financial Group Hermes Holding (EFG Hermes) has received the Financial Regulatory Authority’s (FRA) approval on the first Sukuk issuance in the local market at a total value of EGP 2 billion. The Sharia-compliant …
Sukuk will be offered at a nominal value of EGP 100 apiece
8 April 12:09 PM Egypt’s FRA approves 1st Sukuk issuance on EGX at EGP 2bn
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the first issuance of Sukuk in the Egyptian capital market at a total value of EGP 2 billion, FRA’s chairman Mohamed Omran said. The to-be-issued Ijara Sukuk is compliant …
The redeemed Sukuk represents 100% of the total issued Sukuk
1 April 04:13 PM Almarai fully redeems SAR 787m second Sukuk issuance
Riyadh – Mubasher: Almarai Company fully redeemed the second Sukuk issuance at a total value of SAR 787 million on 31 March, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Wednesday. The redeemed Sukuk represents …
The board will determine the date of issuance
1 April 11:16 AM Ajman Bank's shareholders to study $150m Sukuk issuance
Dubai – Mubasher: The shareholders of Ajman Bank will consider the issuance of $150 million Teir 1 Sukuk which are not convertible into shares, according to a recent disclosure to the Dubai Financial Market (DFM). The ordinary general meeting …
The Sukuk has a five-year maturity from its issuance date
30 March 10:14 AM Gulf Navigation's OGM to issue AED 125m Sukuk
Dubai – Mubasher: The ordinary general meeting (OGM) of Gulf Navigation Holding (GNH) has approved issuing five-year Sukuk at a total value of AED 125 million. During the meeting, shareholders authorised the board to determine the Sukuk issuance …
Ministry of Finance - Saudi Arabia
27 March 06:21 PM Saudi Arabia closes March Sukuk issuance
Riyadh – Mubasher: The Saudi Ministry of Finance has closed the March 2020 issuance under the Saudi Arabian Government SAR-denominated Sukuk program. With an issuance size of SAR 15.568 billion, the offering was through three tranches, according …
Moody's assigned a 'Negative' outlook to EQUATE's new GMTN programme
23 March 02:51 PM Moody's assigns Baa2 rating to EQUATE's GMTN programme
Mubasher: Moody's Investors Service has assigned a (P) Baa2 rating to EQUATE Petrochemical Company’s new GMTN programme that is established under MEGlobal Canada ULC, with a ‘Negative’ outlook. The rating and outlook mirror the previously …
Sharjah has listed a $200m Sukuk on Nasdaq Dubai
22 March 04:07 PM Sharjah lists $200m Sukuk on Nasdaq Dubai
Dubai – Mubasher: The Emirate of Sharjah has listed a $200 million Sukuk on Nasdaq Dubai, bringing the total value of Sukuk listed in Dubai to $67.06 billion. On 19 March 2020, Sharjah has listed its latest $200 million Sukuk, according to a press …
The sukuk may be offered through various single or multiple issuances
17 March 05:39 PM Arabian Centres approves $1bn sukuk
Riyadh – Mubasher: Arabian Centres Company’s shareholders have approved the issuance of Sharia-compliant Sukuk worth up to $1 billion, during the extraordinary general meeting (EGM) on Monday. The Sukuk may be offered through various single or …
Bank investments in government bonds reached SAR 386.69 billion in January
2 March 02:15 PM Saudi banks raise investments in gov’t bonds
Mubasher: Banks operating in Saudi Arabia has raised its investments in government bonds by 20.67% in January 2020, as shown by the data of the Saudi Arabian Monetary Authority (SAMA). Bank investments in governmental and semi-governmental bonds …