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Islamic Finance

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20 October 05:27 PM SAIB plans redemption of SAR 500m sukuk
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) intends to redeem its outstanding SAR 500 million Additional Tier 1 Capital Sukuk on 21 November. The Sukuk was issued through a private placement on 21 November 2016, according to a bourse …
The Sukuk offering is subject to the approval of the competent authority.
5 October 11:28 AM Al Kathiri Holding intends to issue SAR 500m Sharia-compliant Sukuk
Riyadh – Mubasher: Al Kathiri Holding Company has announced its intention to issue local Sharia-compliant Sukuk worth SAR 500 million. The company seeks to market Saudi riyals-denominated Sukuk to accomplish general corporate purposes and meet its …
DIB has hired the banks to arrange the deal
1 September 11:07 AM DIB plans to sell US dollar senior Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) plans to issue US dollar-denominated senior Sukuk, which could be around $500 million in size, sources told Reuters. DIB has hired the banks to arrange the deal, which is expected to be executed next …
Minister of Finance, Mohamed Maait
24 August 11:42 AM Egypt to issue first batch of sovereign Sukuk in H2-FY21/22
Cairo – Mubasher: Egypt is set to issue the first batch of sovereign Sukuk in the second half (H2) of fiscal year (FY) 2021/2022 in a move aimed at providing the required finance for the country's investment projects.   The timing, size, and type …
President Abdel Fattah El-Sisi
18 August 05:52 PM El-Sisi ratifies Sovereign Sukuk Law
Cairo – Mubasher: Egypt's President Abdel Fattah El-Sisi approved a law on the issuance of sovereign Sukuk, after being passed by the House of Representatives.  The law will regulate the issuance of sovereign bonds in accordance with the Islamic …
The Murabaha loan has an eight-year duration
17 August 10:36 AM Alujain secures SAR 1bn Murabaha facility from Alinma Bank
Riyadh – Mubasher: Alujain Holding Corporation has signed an Islamic Murabaha facility agreement with Alinma Bank to obtain funding worth SAR 1 billion. The Murabaha loan has an eight-year duration from 16 August 2021, according to a bourse filing …
Banque Misr will contribute EGP 650 million to the loan
28 July 04:56 PM Banque Misr, BM Lease ink EGP 700m Musharaka deal
Cairo - Mubasher: Banque Misr and BM Lease signed a medium-term Musharaka finance agreement worth EGP 700 million with Bonyan for Development and Trade. Banque Misr will contribute EGP 650 million or 93% to the seven-year loan, while BM lease will …
This brings Contact's total Sukuk issuances to EGP 5 billion
27 July 10:47 AM Contact Financial Holding closes second Sukuk issuance worth EGP 2.5bn
Cairo - Mubasher: Contact Financial Holding has closed its second Sukuk issuance worth EGP 2.5 billion by its Sukuk arm, Sarwa Sukuk Company. The Shariah-compliant Mudaraba Sukuk, which has a seven-year tenor, received a high credit rating of A- …
The settlement of the Sukuk will take place on 28 July
15 July 04:15 PM Arabian Centers raises $225m from USD-denominated Sukuk issue
Riyadh – Mubasher: Arabian Centers Company has offered 1,125 USD-denominated Sukuk ll Re-Tap at a total value of $225 million. The Shariah-compliant notes were offered at a par value of $200,000 per note, holding a 5.5-year maturity until 7 …
Arabian Centres will later announce the size and value of the Sukuk
13 July 04:17 PM Arabian Centres starts issuing USD-denominated Sukuk
Riyadh – Mubasher: Arabian Centres Company has commenced issuing Shariah-compliant Sukuk in USD, according to a bourse disclosure on Tuesday. The USD-denominated Sukuk will be part of outstanding notes worth $650 million that were issued on 7 …
The Sukuk has been priced at 3.7% yield
13 July 12:10 PM Emaar Properties lists $500m Sukuk on Nasdaq Dubai
Dubai – Mubasher: Emaar Properties has celebrated the listing of a $500 million Sukuk of a 10-year tenor on Nasdaq Dubai. The Sukuk issuance is part of the company's $2 billion trust certificates issuance programme solely listed on Nasdaq Dubai, …
The company will be established with an authorised capital of EGP 100 million
11 July 01:14 PM ADIB Egypt to set up Sukuk firm
Cairo - Mubasher: The board of directors of Abu Dhabi Islamic Bank-Egypt (ADIB Egypt) approved a decision to proceed with setting up a Sukuk company.  The company will be established with an authorised capital of EGP 100 million and issued capital …
The total number of Sukuk amounted to 5,000
4 July 04:31 PM Alinma Bank completes offering of SAR 5bn additional Tier 1 Sukuk
Riyadh - Mubasher: Alinma Bank completed the offering of additional Tier 1 Sukuk worth SAR 5 billion through a private placement. The total number of Sukuk amounted to 5,000 at a par value of SAR 1 million each, the bank said in a bourse …
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4 July 02:54 PM Emaar Properties inks final terms to issue $500m Sukuk
Dubai – Mubasher: Emaar Properties has signed the final terms relating to the issuance of $500 million trust certificates with an annual return of 3.7%. Due in 2031, the senior unsecured Sukuk will be issued under the company’s $2 billion Trust …
Bank AlJazira announced that the notes hold a return of 3.950%
29 June 05:07 PM Bank AlJazira concludes $500m USD-denominated Sukuk sale
Riyadh – Mubasher: Bank AlJazira has completed selling USD-denominated Sukuk at a total value of $500 million, according to a bourse disclosure on Tuesday. The volume of the perpetual Tier 1 capital certificates totalled 2,500 Sukuk notes at …
Emaar has set initial price guidance of around 4.25% for the Sukuk
29 June 10:14 AM Emaar Properties expected to raise $500m through Sukuk issuance
Dubai – Mubasher: Emaar Properties is expected to secure up to $500 million through 10-year US dollar-denominated Sukuk, Reuters reported. Emaar has set initial price guidance of around 4.25% for the Sukuk, as shown by a cited document from one of …
Sovereign sukuk will help the government diversify its funding sources
28 June 04:22 PM Egypt's House of Representatives gives final nod to sovereign Sukuk law
Cairo - Mubasher: The Egyptian House of Representatives gave final approval to the draft law of sovereign Sukuk, the Middle East News Agency (MENA) reported on Monday.  The law was passed after being approved by Al-Azhar institution, the Financial …
The Sukuk will be issued under a $2 billion trust certificate issuance programme
28 June 09:31 AM Emaar Properties hires banks for 10-year Sukuk issuance
Dubai – Mubasher: Emaar Properties has hired banks to arrange for the issuance of the US dollar-denominated senior unsecured Sukuk of a 10-year tenor. The Sukuk will be issued under the company's $2 billion trust certificate issuance programme, …
The bank will continue to issue the perpetual Sukuk until 29 June
24 June 10:00 AM Bank AlJazira starts offering USD-denominated Sukuk
Riyadh – Mubasher: Bank AlJazira, through BAJ Sukuk Tier 1 Limited, has started today, 24 June, offering USD-denominated Tier 1 capital certificates at a minimum subscription and par value of $200,000. The bank will continue to issue the perpetual …
Sukuk will be used for diversifying the investor base
22 June 02:02 PM Egypt says assets backing sovereign Sukuk not to be sold or mortgaged
Cairo - Mubasher: The Egyptian Ministry of Finance affirmed that the country's assets backing its planned sovereign Sukuk will neither be mortgaged nor sold.  The sovereign Sukuk will be used as a new financial instrument for diversifying the …
The 36-month funding is covered by a promissory note.
22 June 11:57 AM Al Naqool receives SAR 4.7m financing from Tamweel Aloula
Riyadh - Mubasher: Mohammed Hassan Al Naqool Sons Co. received a SAR 4.7 million Shariah-compliant financing from Tamweel Aloula Company. The funding will be used to purchase equipment in order to boost production capacity, the company said in a …
The value represented 4.72% of the Sukuk total amount
21 June 12:15 PM Satorp’s AATSC redeems SAR 177m of Sukuk
Riyadh – Mubasher: Arabian Aramco Total Services Company (AATSC), a subsidiary of Saudi Aramco Total Refining and Petrochemical Company (Satorp) has redeemed SAR 176.99 million of Sukuk as scheduled every six months. The value represented 4.72% of …
The Sukuk can be redeemed after five years
20 June 04:26 PM Bank Aljazira plans up to $500m USD-denominated Sukuk offering
Riyadh – Mubasher: Bank Aljazira announced that BAJ Sukuk Tier 1 Limited intends to issue USD-denominated Tier 1 capital certificates at a total amount not exceeding $500 million through a private placement. The Sukuk can be redeemed after five …
Aramco completed on 17 June the Sukuk issuance of 30,000 notes
17 June 04:11 PM Aramco raises $6bn through USD-denominated Sukuk offering
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has raised $6 billion by issuing USD-denominated international trust certificates. Aramco completed on 17 June the Sukuk issuance of 30,000 notes at a par value of $200,000 each, …
The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders
17 June 12:37 PM Kuwait's Ahli United Bank lists $600m Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by Ahli United Bank (AUB), a Kuwaiti financial institution. The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders, according to a press release on …