Islamic Finance

The sukuk’s final amount will be specified subject to the market conditions
21 March 10:13 AM STC mulls issuing US dollar-denominated sukuk
Riyadh – Mubasher: Saudi Telecom Company (STC) on Thursday announced plans to establish a US dollar-denominated sukuk programme at up to $5 billion and issue sukuk thereunder directly or via an offshore special purpose vehicle. The issue will be …
Asian investors made up 46% of the sukuk issue
20 March 11:05 AM Qatar Islamic Bank completes $750mn sukuk issuance
Mubasher: Qatar Islamic Bank (QIB) on Wednesday announced the completion of issuing a $750 million five-year sukuk. Sukuk was priced at par with a profit rate of 3.982% and the order book was closed at $3.1 billion, representing 4.1 times …
The energy bank will be launched in the fourth quarter of 2019
19 March 11:36 AM Qatar to launch $10bn energy Islamic bank
Mubasher: Qatar on Tuesday announced the launch of the largest energy-focused Islamic bank with a capital of $10 billion. The energy bank will be launched in the fourth quarter of 2019 with a paid-up capital of $2.5 billion under the umbrella of …
The buyback has slashed the size of the sukuk from $530 million to $397 million
17 March 10:50 AM Dana Gas repurchases $133m sukuk
Abu Dhabi – Mubasher: Dana Gas, the Middle East’s largest regional natural gas company, on Sunday announced that it has bought back a total of $133 million sukuk of 4% Nile Delta sukuk certificates. The buyback has slashed the size of the sukuk …
QIB targets a five-year senior unsecured sukuk sale
12 March 04:04 PM Qatar Islamic Bank hires 6 banks for dollar sukuk issue
Mubasher: Qatar Islamic Bank (QIB) appointed six local and international banks as joint lead managers and joint bookrunners ahead of its potential US dollar-denominated sukuk issue, the Qatari lender said in a statement to the Qatar Stock Exchange …
The transaction’s financial impact will appear in Almarai’s financial results of the first quarter of 2019.
7 March 09:45 AM Almarai redeems SAR 1bn sukuk
Riyadh – Mubasher: Almarai Co said on Thursday it has redeemed the first series of sukuk at a value of SAR 1 billion. The seven-year sukuk matured on 7 March 2012, the food and beverage firm said in a statement to the Saudi Stock Exchange …
QIIB previously announced issuing $500 million sukuk as part of its $2 billion sukuk programme.
5 March 05:42 PM QIIB lists $500m sukuk on London Stock Exchange
Mubasher: Qatar International Islamic Bank (QIIB) on Tuesday listed its $500 million sukuk on the London Stock Exchange (LSE). The offering was oversubscribed about seven times, with a total value of $3.4 billion, carrying a fixed coupon of 4.264% …
The Islamic bonds will be offered in a private placement for investors
4 March 10:47 AM Jabal Omar kicks off SAR 2bn sukuk issue
Riyadh – Mubasher: Jabal Omar Development Company on Monday announced the beginning of issuing five-year domestic sukuk at a value of SAR 2 billion ($533.3 million). The Islamic bonds will be offered in a private placement for investors, according …
The tenure of the 38-month loan after rescheduling stands at six months.
3 March 10:28 AM Al Khodari reschedules SAR 135m Islamic loan
Riyadh — Mubasher: Abdullah Abdul Mohsen Al Khodari Sons on Sunday announced rescheduling a SAR 135 million sharia-compliant loan secured by Al Khodari Investment Holding Company. Al Khodari ascribed the loan restructuring to the availability of …
The five-year Islamic bonds issue has a yield of 4.31%
27 February 12:56 PM Saudi Almarai issues $500m int'l sukuk
Riyadh – Mubasher: Saudi Arabia’s Almarai Co on Wednesday said it completed issuing SAR 1.875 billion ($500 million) US dollar-denominated sukuk under the fixed rate RegS Senior system. The food and beverage firm issued 2,500 sukuk, while the par …
The offering was oversubscribed six times
27 February 12:50 PM QIIB issues $500m sukuk
Mubasher: Qatar International Islamic Bank (QIIB) on Wednesday announced issuing $500 million sukuk as part of its $2 billion sukuk programme. The offering was oversubscribed six times, mainly from investors outside the Middle East, with a total …
The issue’s magnitude will be subject to the market conditions
26 February 12:17 PM Saudi Almarai kicks-off US dollar-denominated sukuk Tuesday
Riyadh – Mubasher: Almarai Co on Tuesday announced the beginning of US dollar-denominated sukuk issue that will be under the fixed rate RegS Senior system. The issue’s magnitude will be subject to the market conditions, while it will end on 27 …
The listing reflects the close relations between the UAE and Indonesia
20 February 12:21 PM Nasdaq Dubai welcomes listing Indonesia’s $2bn green sukuk
Dubai – Mubasher: Nasdaq Dubai on Wednesday announced welcoming the listing of two green sukuk issues by the government of Indonesia, the largest sukuk issuer on the Middle East’s international stock exchange by both value and number of listings. …
Almarai will use the issue to finance its business purposes.
19 February 10:47 AM Almarai to meet investors for potential sukuk issue
Riyadh – Mubasher: Almarai Co will meet with a number of investors to issue US dollar-denominated sukuk that will be under the fixed rate RegS Senior system. The value of the Islamic bond issue will be specified over the coming period subject to …
The first tranche stood at SAR 1.8 billion
19 February 09:38 AM Saudi Arabia closes SAR 9.38bn sukuk issue – MoF
Riyadh – Mubasher: The Saudi Arabian Ministry of Finance (MoF) announced closing its three-tranch domestic sukuk issue under the Saudi government local currency sukuk programme at a value of SAR 9.376 billion. The first tranche stood at SAR 1.8 …
The Qatari lender’s profits rose 6% to QAR 882.14 million in 2018
18 February 11:31 AM QIIB begins investor roadshow for potential sukuk issue
Mubasher: Qatar International Islamic Bank (QIIB) on Monday announced starting a roadshow for meeting investors in the UK and East Asian countries as part of its previously-established sukuk programme. QIIB mandated Khaleeji Commercial …
Al Manar Financing and Leasing Co. was founded in Kuwait in 2003
12 February 10:18 AM Al Manar Financing starts trading on Boursa Kuwait Tuesday
Mubasher: Trading on the stock of Al Manar Financing and Leasing Co. has started on Tuesday, 12 February. Al Manar will be listed in the financial services segment in the Main Market of Boursa Kuwait, according to a bourse disclosure on Tuesday. …
The treasury sector is considered the core hub of KFH
11 February 01:56 PM KFH transactions in sukuk market total $11bn in FY18
Mubasher: Kuwait Finance House (KFH) has registered $10.68 billion worth trading activity in the sukuk market during fiscal year 2018, general manager of treasury at KFH AbdulWahab Al Roshood said, according to a recent statement. This volume …
The expected return on the sukuk issue is 4.39%
6 February 03:29 PM Bahrain C.bank sukuk Al Ijara oversubscribed
Mubasher: The Central Bank of Bahrain (CBB) announced that its monthly issue of the short-term Islamic leasing bonds, sukuk Al Ijara, has been oversubscribed by 119%, according to a recent statement by the central bank. Subscription value totalled …
The issue was oversubscribed 4.9 times
6 February 01:48 PM DIB lists $750m sukuk on Nasdaq Dubai
Dubai – Mubasher: Nasdaq Dubai on Wednesday announced listing dollar-denominated sukuk issue of $750 million for Dubai Islamic Bank (DIB), the UAE’s largest Islamic bank. The issue was oversubscribed 4.9 times, while annual profit rate reached …
NBK has managed sukuk and bonds issuance for Equate
5 February 05:08 PM Bank lending remains key financing tool in GCC – NBK
Mubasher: Bank lending is still a leading financing instrument for megaprojects in the GCC countries, general manager of foreign corporate, oil and trade finance group of the National Bank of Kuwait (NBK) said. “The region’s banks have more …
4 GCC states to enter J.P. Morgan EMBI Thursday
30 January 09:54 AM J.P. Morgan EMBI to welcome listing of 4 GCC states' bonds Thursday - Analysis
By: Mahmoud Gamal Dubai – Mubasher: The UAE, Saudi Arabia, Kuwait, and Bahrain are scheduled to join the J.P. Morgan Emerging Market Bond Index (EMBI) on Thursday, 31 January. Listing of these countries on the EMBI paves the way for pumping around …
The Saudi government has set the Southeast Asian nation’s Hajj quota at 221,000 in 2019, the largest contingent of Muslim pilgrims.
27 January 05:20 PM Indonesia eyes new investment targets for $8bn Hajj funds
Mubasher: Indonesia plans to explore new sharia-compliant investment opportunities to deploy part of its $8 billion Hajj funds. The Southeast Asian nation’s hajj fund management agency (BPKH) has accumulated IDR 111 trillion ($7.9 billion) as the …
Dubai Islamic Bank
24 January 09:22 AM DIB closes $750m AT1 Perpetual Sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) on Thursday announced its successful closure of US-denominated $750 million AT1 Perpetual Non-Call six-year sukuk with a profit rate of 6.25% per annum. This profit rate is equivalent to 366.4bps over the …
The meetings will take place in Abu Dhabi, Dhabi, Hong Kong, London, and Singapore on 25 January
23 January 12:12 PM Dubai Investments’ unit mulls 5-yr sukuk issue
Dubai – Mubasher: Dubai Investments Park, the wholly-owned subsidiary of Dubai Investments, has mandated five joint lead managers and bookrunners to arrange meetings with fixed income investors before its planned five-year sukuk issue. Dubai …