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Islamic Finance

Sukuk listings on Nasdaq Dubai reached $62.35 billion
18 July 02:58 PM Nasdaq Dubai celebrates $1bn suluk listing by DP World
UAE – Mubasher: Nasdaq Dubai has welcomed the listing of $1 billion sukuk and a $300 million conventional bond issued by DP World. With sukuk and conventional bond listings of $8.09 billion, DP World is the largest UAE debt issuer on Nasdaq Dubai …
The bank should also complete remaining requirements
17 July 04:21 PM Kuwait C.bank approves Warba Bank’s $500m sukuk issue
Mubasher: Kuwait-based Warba Bank has obtained the Central Bank of Kuwait’s (CBK) preliminary approval to issue sukuk at a value not exceeding $500 million under $2 billion sukuk programme. The bank will obtain the CBK’s final approval after …
The company's net profits amounted to EGP 127.87 million in Q1-19
15 July 12:48 PM Egypt’s FRA approves Sarwa Capital’s sukuk securitisation business
Cairo – Mubasher: Sarwa Capital Holding for Financial Investments announced that its unit Sarwa Sukuk Company has obtained a sukuk securitisation licence from the Egyptian Financial Regulatory Authority (FRA). The Sharia-compliant sukuk issuance …
The port operator is also planning to issue 10-year benchmark sukuk
11 July 11:48 AM DP World to raise $700m in sukuk
UAE – Mubasher: DP World, a global port operator based in Dubai, is looking to raise around $700 million via conventional and Islamic bond issues on Thursday, Reuters reported, citing documents issued by banks involved in the deal. The port …
Total Islamic funding are forecast to reach EGP 235 billion at the end of June
10 July 03:55 PM Islamic banks likely to inject EGP 9bn in Egypt in Q2 – EIFA chairman
By: Islam Fadl Cairo – Mubasher: Islamic funding injected by banks are expected to increase by EGP 9 billion during the second quarter of 2019, head of the Egyptian Islamic Finance Association (EIFA), Mohamed El-Beltagy, told Mubasher on …
The offering was oversubscribed by over 1.6x
9 July 09:46 PM Savola Group issues SAR 1bn sukuk
Riyadh – Mubasher: Savola Group on Tuesday announced that it had raised SAR 1 billion ($267 million) in sukuk, according to Reuters. Arranged by HSBC’s Saudi unit, the sukuk sales offered investors a profit rate equivalent to 160 basis points over …
DP World appointed three international banks to arrange a series of investor meetings
9 July 03:22 PM DP World appoints 3 int’l banks for dollar sukuk issue
UAE – Mubasher: DP World, a global port operator based in Dubai, has appointed three international banks to arrange a series of investor meetings in Hong Kong, Singapore, and London, starting Wednesday, 10 July, Bloomberg News reported. The banks, …
The credit facility amounted to SAR 4 million after the addition of SAR 1 million
27 June 04:25 PM Al Kathiri Holding gets Riyad Bank’s approval to renew Islamic facility deal
Riyadh – Mubasher: Al Kathiri Holding Company has obtained Riyad Bank’s approval to renew and increase a sharia-compliant credit facility agreement. The credit facility amounted to SAR 4 million after the addition of SAR 1 million to the …
The bank’s AT1 Sukuk yield is the lowest in the region
26 June 04:10 PM Sharjah Islamic Bank raises $500m sukuk
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB), listed on the Abu Dhabi Securities Exchange (ADX), on Wednesday said it has raised $500 million in its debut Additional Tier 1 (AT1) sukuk at the lowest price of 5%. Accordingly, the bank’s AT1 …
The finance ministry aims to offer green bonds and Islamic sukuk
26 June 12:22 PM Egypt to issue $4-7bn Eurobonds, sukuk in FY19/20 – Minister
Cairo – Mubasher: Egypt’s finance ministry plans to raise between $4 billion and $7 billion in fiscal year 2019/2020, the country’s finance minister Mohamed Maait told Bloomberg TV.  The finance ministry aims to offer green bonds and Islamic …
The 12-year Murabaha facility will be repaid in 24 semi-annual scheduled installments
25 June 12:27 PM Sipchem unit inks $600m Islamic facility with local banks
Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) announced that its 50%-owned subsidiary, Sahara & Ma’aden petrochemicals company (SAMAPCO),  signed an Islamic facility agreement with a number of local banks. The SAR 2.25 …
Total assets of SIB amounted to AED 44.7bn at the end of 2018.
24 June 11:14 AM Sharjah Islamic Bank eyes raising $500m bonds
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB), listed on the Abu Dhabi Securities Exchange (ADX), plans to raise $500 million through its planned debt sale, deputy chief executive Ahmed Saad told Reuters. This will consequently boost the bank’s …
The seven-year facility includes a grace period of three years
23 June 05:31 PM Saudi Kayan signs $2bn Murabaha facility with NBC
Riyadh – Mubasher: Saudi Kayan Petrochemical Company (Saudi Kayan) has signed a Sharia-compliant Murabaha financing facility with National Commercial Bank with a total value of $2 billion (SAR 7.5 billion). The seven-year facility, which was …
The total number of redeemed sukuk stood at 1,200
23 June 05:31 PM Petrochem redeems SAR 1.2bn sukuk
Riyadh – Mubasher: National Petrochemical Co (Petrochem) announced it has fully redeemed SAR 1.2 billion ($4.5 billion) sukuk. The financial impact of the process will be realised in the financial results of the second quarter of 2019, the company …
The outstanding sukuk amount to SAR 2.676bn
20 June 09:51 PM Arabian Aramco Total Services redeems SAR 140.9m
Riyadh – Mubasher: Arabian Aramco Total Services Company (AATSC) on Thursday announced the partial redemption of sukuk, with an amount of SAR 140.996 million (3.76% of the sukuk’s face value), according to a bourse statement. The company added …
Net investment income of commercial banks in Abu Dhabi grew by 1.9%
20 June 11:57 AM Abu Dhabi banks’ net income totals AED 8bn in Q1
UAE – Mubasher: Net income from Abu Dhabi-headquartered commercial and Islamic banks amounted to AED 8 billion during the first quarter of 2019, according to recent data by the Statistics Centre − Abu Dhabi (SCAD). On an annual basis, net …
Savola has appointed HSBC Saudi Arabia to manage the offering
18 June 04:42 PM Savola to start offering its 1st issuance of sukuk
Riyadh – Mubasher: Savola Group will start offering its first sukuk issuance under the Sukuk Program on Wednesday, 19 June. Ending on 31 August, the sukuk are offered by way of a private placement, according to a filing to the Saudi Stock Exchange …
Saudi Arabia would continue to be an “active” issuer on dollar bond markets
18 June 04:20 PM Saudi Arabia to issue dollar sukuk by end of 2019
Riyadh – Mubasher: Saudi Arabia plans to issue Islamic bonds or sukuk by the end of 2019, Reuters reported. “We are planning to issue a sukuk in dollars before the end of this year,” Fahad Al Saif, head of the kingdom’s debt management office, …
The conference will discuss mechanisms of sukuk finance
18 June 02:56 PM EIFA's annual conference to kick off in Egypt on Thursday
Cairo – Mubasher: The Egyptian Financial Regulatory’s (FRA) chairman Mohamed Omran will inaugurate the annual conference of the Egyptian Islamic Finance Association (EIFA) on 20 June. The conference will discuss mechanisms of sukuk finance and the …
SCA approved to register around AED 7 billion bonds and sukuk in local securities markets in 2018
18 June 10:53 AM UAE SCA approves AED 7bn bond, sukuk issuance in 2018
UAE – Mubasher: The UAE Securities and Commodities Authority (SCA) has approved to register around AED 7 billion bonds and sukuk in local securities markets in 2018, Emirates News Agency (WAM) reported. Almost five national companies have issued …
The First Group appointed Shuaa Capital to arrange the anticipated transaction
13 June 09:21 AM Shuaa Capital to arrange $135m sukuk issue for First Group
UAE – Mubasher: The First Group, a leading real estate developer and investor based in Dubai, is planning to issue $135 million in sukuk, a company spokeswoman told Reuters. The group has appointed Shuaa Capital to arrange the anticipated …
The sukuk offering was listed on the Irish Stock Exchange
11 June 06:02 PM KIB receives proceeds of $300 million sukuk issue
Mubasher: Kuwait International Bank (KIB) on Tuesday announced that it received the proceeds of $300 million AT1 sukuk. The sukuk offering was listed on the Irish Stock Exchange (Euronext Dublin), according to a bourse statement. In May, the …
The shareholders in DIB will weigh up the acquisition of 100% stake in Noor Bank
10 June 09:48 AM DIB considers acquisition of Noor Bank
Dubai – Mubasher: The board of directors of Dubai Islamic Bank (DIB) has recommended during the bank’s general meeting to consider the full acquisition of Noor Bank’s shares. The shareholders in DIB will weigh up the acquisition of 100% stake in …
This newly-launched index will offer a new revolving instrument to annalise USD-denominated sukuks in global markets
9 June 02:15 PM KFH Capital arranges $5bn sukuk issues
Mubasher: KFH Capital, the investment arm of Kuwait Finance House (KFH), has been placed in leading positions among regional and international sukuk issuers, the company’s chief investment banking officer said. KFH Capital acted as one of the …
The issue comes along with the company’s $5 billion sukuk programme
9 June 01:27 PM KFH Capital arranges 1st sukuk transaction for STC
Mubasher: Kuwait's KFH Capital has finalised the arrangement of its first sukuk issue transaction for the Saudi Telecom Company (STC), valued at $1.25 billion. Abdullah Sulaiman Al Haddad, chief investment banking officer of KFH Capital, said that …