Islamic Finance

The five-year Islamic bonds issue offers buyers 130 basis points over mid-swaps
16 January 12:02 PM FAB’s sukuk issue raises $850m
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) on Wednesday announced that it has raised $850 million in sukuk issue, a document issued by one of the banks leading the transaction. The five-year Islamic bonds issue offers buyers 130 basis points …
FAB set the sukuk’s guidance price at 130 basis points (bp) over mid-swaps
16 January 09:14 AM FAB to raise $750m via sukuk issue
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) is forecast to raise $750 million via a five-year sukuk issue which is set to be implemented in the coming period, a document by one of the transaction’s arrangers showed. The UAE’s largest lender …
The company is planning to initiate a senior sukuk issue
27 December 2018 10:08 PM Saudi Real Estate Refinance unveils SAR 11bn sukuk programme
Riyadh – Mubasher: Saudi Real Estate Refinance Co has established a sukuk issuance programme, which will allow the state-owned firm to issue up to SAR 11 billion ($2.9 billion) riyal-dominated sukuk. The company has mandated HSBC Saudi Arabia as …
The financial impact of this acquisition cannot be determined in the current time
23 December 2018 00:42 PM NIH acquires KWD 24m equity in Lagoon City Sukuk
Mubasher: National International Holding (NIH) announced that a fully-owned subsidiary has acquired 50% equity in Lagoon City Sukuk Company Limited. The takeover deal is valued at KWD 24.16 million ($79.7 million), according to a bourse disclosure …
This is the second listing by the emirate in Nasdaq Dubai
20 December 2018 02:21 PM Nasdaq Dubai celebrates Sharjah’s $200m sukuk listing
Dubai – Mubasher: Nasdaq Dubai has welcomed the listing of a $200 million Sukuk issued by the Emirate of Sharjah. This is the second listing by Sharjah in the regional exchange during 2018, increasing the value of the emirate’s total listings to …
Jabal Omar nods to issue SAR 2bn sukuk
18 December 2018 05:30 PM Jabal Omar nods to issuing SAR 2bn sukuk
Riyadh – Mubasher: The Saudi real estate developer Jabal Omar Development on Tuesday has revealed plans to issue domestic sukuk at a value of SAR 2 billion ($533 million). This issue aims to finance the firm’s projects, according to a statement to …
The repurchased sukuk will be delivered to Bank of New York Mellon in due course for effecting cancellation
16 December 2018 08:58 AM Dana Gas buys back $12m sukuk
Abu Dhabi – Mubasher: The Sharjah-based Dana Gas on Sunday announced a buyback of around $12 million of 4% Nile Delta Sukuk Ltd Certificates– Reg S of the Issuer in December. The repurchased sukuk will be delivered to the principal paying agent …
Blockchain was used to transact an amount of $500 million of the bank’s senior sukuk in a secondary market deal
26 November 2018 05:00 PM Al Hilal Bank closes world’s 1st blockchain sukuk transaction
Abu Dhabi – Mubasher: Al Hilal Bank on Monday revealed that it has become the world’s first Islamic bank to use Blockchain technology for the resale and settlement of sukuk, Islamic bonds.  Blockchain was used to transact an amount of $500 million …
Photo Archive
13 November 2018 07:41 PM X8 introduces new tokens for Islamic investors
Mubasher: X8 Currency has announced that it has been certified for Sharia compliance by the Shariyah Review Bureau (SRB). X8 is a Blockchain based digital currency that was the first to receive the certification for its ARM-AI (Automatic Reserve …
The bank issued three-year sukuk at a total value of QAR 700 million
12 November 2018 02:53 PM QCB sells bonds, sukuk for QAR 3.6bn Monday
Mubasher: The Qatar Central Bank (QCB) has sold sukuk and bonds at a combined value of QAR 3.6 billion ($988.9 million) on Monday, 12 November. The bank issued three-year sukuk at a total value of QAR 700 million matured on 11 November 2021, …
Nasdaq Dubai welcomes EUR 650m sukuk by Saudi-based IsDB
11 November 2018 02:05 PM Nasdaq Dubai welcomes EUR 650m sukuk by Saudi-based IsDB
Dubai – Mubasher: Nasdaq Dubai on Sunday welcomed the listing of an EUR 650 million Sukuk by the Islamic Development Bank (IsDB). This is the IsDB's first euro listing, the bourse said, noting that the IsDB currently has nine dollar-denominated …
The sukuk issued in 2013
1 November 2018 02:37 PM Alawwal Bank to redeem SAR2.5bn sukuk
Riyadh – Mubasher: Alawwal Bank on Thursday revealed plans to redeem SAR 2.5 billion sukuk. The sukuk, which were issued in 2013 and under the symbol 1047, would be redeemed on 12 December, according to a statement to the Saudi Stock Exchange …
Gulf Navigation to proceed with AED 100m sukuk issue
31 October 2018 00:51 PM Gulf Navigation to proceed with AED 100m sukuk issue
Dubai – Mubasher: Gulf Navigation on Wednesday announced that it would continue with its sukuk issue worth AED 100 million in a bid to boost capital and support its vessel-acquisition plans. The company had previously said it would launch a sukuk …
The new sukuk will be listed on the London Stock Exchange (LSE)
30 October 2018 10:12 AM Tabreed raises $500m sukuk
Dubai – Mubasher: National Central Cooling Company (Tabreed) on Tuesday announced it has successfully raised seven-year term fixed rate senior unsecured US dollar-denominated RegS sukuk worth $500 million (AED 1.8 billion). The new sukuk will be …
The issue was divided into three tranches
29 October 2018 09:51 AM Saudi Arabia closes SAR 3.25bn sukuk issue – MoF
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) has closed the (10-2018) local sukuk issue under the Saudi government local currency sukuk programme at a value of SAR 3.25 billion ($867 million). The issue was divided into three tranches …
Islamic sharia-compliant asset to exceed 2017 $2.4tn value by 2023 - DIEDC
28 October 2018 04:01 PM Islamic sharia-compliant asset to exceed 2017 $2.4tn value by 2023 - DIEDC
Dubai – Mubasher: The Dubai Islamic Economy Development Centre (DIEDC) on Sunday rang the market-opening bell at Nasdaq Dubai’s MarketSite announcing the launch of the second day of the Islamic Economy Week, which coincided with the opening of the …
Tabreed to begin dollar-denominated sukuk roadshow
17 October 2018 03:41 PM Tabreed to begin dollar-denominated sukuk roadshow
Dubai – Mubasher: National Central Cooling Co. “Tabreed” on Wednesday announced plans to launch fixed-rate US dollar-denominated sukuk and begin a roadshow to market the sukuk. The seven-year sukuk will be marketed through a series of fixed income …
Dana Gas to trim sukuk by October 2019
15 October 2018 00:18 PM Dana Gas to trim sukuk by October 2019 - IR head
By: Mahmoud Gamal Abu Dhabi – Mubasher: Dana Gas now has to reduce the value of its sukuk to $397 million by October 2019, the company’s head of investor relations told Mubasher on Monday. This plan comes as part of its deal with sukuk holders, …
This cancellation would bring the total outstanding of Nile Delta sukuk certificates to around $431 million
15 October 2018 11:27 AM Dana Gas repurchases $99m sukuk; to cancel later
Abu-Dhabi - Mubasher: Dana Gas on Monday announced that it has bought back $99 million of 4% Nile Delta sukuk certificates this month. The repurchased sukuk will be delivered to Bank of New York Mellon, which is the principal paying agent of the …
Riyad Bank to redeem SAR 4 billion sukuk
8 October 2018 05:36 PM Riyad Bank to redeem SAR 4bn sukuk
Riyadh – Mubasher: Riyad Bank on Monday said it was planning to redeem its SAR 4 billion sukuk due in 2020. The redemption will be made “in full, at their face value [which is] 100% of the issue price at their face value at the end of year five, …
ADIB has raised $750 million of additional Tier 1 capital
8 October 2018 02:49 PM ADIB’s AED 1bn rights issue subscription to close on 9 October
Mubasher: The subscription period for Abu Dhabi Islamic Bank’s (ADIB) AED 1 billion rights issue will close on 9 October, according to an official statement. The allocation of ADIB’s new shares will be announced a week later form the closing date. …
Officials from the ADX and Aldar Investments during the bell-ringing ceremony on Sunday
7 October 2018 02:43 PM ADX lists Aldar Investments’ $500m sukuk Sunday
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) on Sunday announced ringing the market bell for listing Aldar Investments’ $500 million sukuk. The bell-ringing marks the listing of the first corporate sukuk ever to be listed on the …
The Islamic bonds were issued in 2008 to finance the iconic Villamar project in the Kingdom of Bahrain
2 October 2018 10:49 AM GFH Group acquires $200m sukuk from Al Rajhi Bank
Dubai – Mubasher: GFH Financial Group, listed on Bahrain Bourse, Boursa Kuwait, and the Dubai Financial Market (DFM), has signed an agreement to acquire $200 million sukuk of Villamar Company Limited from Al Rajhi Bank. The Islamic bonds were …
Tabreed shareholders nod to $1bn bond, sukuk issue
30 September 2018 00:53 PM Tabreed shareholders nod to $1bn bond, sukuk issue
Dubai – Mubasher: National Central Cooling Co. (Tabreed) on Sunday said its shareholders had approved the issuance of non-convertible bonds or sukuk. The bonds or sukuk may reach up to $1 billion or its equivalent, Tabreed said in a statement to …
The new listings by the global trade enabler include $1 billion sukuk
26 September 2018 01:53 PM Nasdaq Dubai welcomes DP World’s $3.3bn sukuk, bonds
Dubai – Mubasher: Nasdaq Dubai has welcomed four sukuk and conventional bonds listings by DP World equal $3.3 billion. The new listings by the global trade enabler include $1 billion sukuk and three conventional bonds whose value amount to $1 …