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21 November 11:44 PM

Islamic Finance

Banks providing the finances are led by Samba Financial Group
20 November 11:26 AM Arabian Centres inks $1.4bn Murabaha, Ijara deals
Riyadh – Mubasher: Arabian Centres Company has signed Islamic finance facilities worth a total of $1.4 billion (SAR 5.25 million) with a number of banks. Banks providing the finances are Samba Financial Group as Global Agent, Goldman Sachs …
Sukuk and Islamic Finance
The five-year Sukuk certificates have a 5.375% return
20 November 10:49 AM Arabian Centres issues $500m Sukuk
Riyadh – Mubasher: Arabian Centres Company announced on Wednesday the completion of issuing international USD-denominated Sukuk, according to a statement to the Saudi Stock Exchange (Tadawul). The company issued 2,500 Islamic bonds (Sukuk) at a …
Photo Archive
18 November 12:25 PM Advanced Petrochemical redeems SAR 1bn Sukuk
Riyadh – Mubasher: Advanced Petrochemical Company announced that it has completely redeemed its SAR 1 billion Sukuk on Sunday 17 November, according to a bourse filing. The company has redeemed 1,000 Islamic bonds (Sukuk) with a par value of SAR 1 …
Sukuk and Islamic Finance
The purpose of the SAR 100 million bank facility is to finance assigned projects
18 November 12:11 PM Al Moammar, Albilad ink Islamic finance deal
Riyadh – Mubasher: Al Moammar Information Systems Company announced signing a Shariah-Compliant Islamic finance agreement with Bank Albilad. The SAR 100 million credit facility was received on 22 October 2019, according to a company statement to …
Sukuk and Islamic Finance
The has been 2.7 times oversubscribed
18 November 10:30 AM DIB successfully closes $750m sukuk
Dubai – Mubasher: Dubai Islamic Bank (DIB) managed to close a five-year sukuk issue worth $750 million with a profit rate of 2.95% annually or 140 basis points (bps) during the five-year mid swap rate.  This transaction is the bank’s second foray …
Dar Al-Arkan Chairman ringing today's session opening bell in Nasdaq Dubai
13 November 04:14 PM Dar Al-Arkan lists $600m Sukuk on Nasdaq Dubai
Riyadh – Mubasher: Dar Al-Arkan Real Estate Development Company, listed on the Saudi Stock Exchange (Tadawul), has listed $600 million Sukuk on Nasdaq Dubai. The five-year Sukuk issuance was more than 2.5 times oversubscribed, with investors from …
Real estate
The sukuk issue was oversubscribed by 6x
9 November 05:19 PM ADX lists $500m sukuk issued by Aldar Properties’ unit
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange has listed $500 million sukuk issued by Aldar Investment Properties, a fully-owned subsidiary of Aldar Properties, the Emirates News Agency reported. With a tenor of 10 years, the fixed-rate …
Sukuk and Islamic Finance
Moody’s assigned Ba1 rating to Arabian Centres
8 November 10:46 PM Moody’s assigns Ba2 rating to Arabian Centres’ dollar sukuk; Outlook stable
Riyadh – Mubasher: Moody’s Investors Service has assigned Ba1 corporate family rating to Arabian Centres Company, according to a statement released on Friday. The international rating agency assigned a Ba2 instrument rating to the benchmark sized …
Ratings
Arabian Centres hired Goldman Sachs and HSBC
8 November 09:58 PM Saudi Arabian Centres hires banks to arrange dollar sukuk
Riyadh – Mubasher: Arabian Centres Company has reportedly hired global banks to arrange its dollar-dominated sharia-compliant sukuk, according to Reuters. The Tadawul-listed company hired Goldman Sachs and HSBC to coordinate the deal, along with …
Banking and Finance
The sukuk offering will be subject to the approval of the relevant regulatory authorities
7 November 11:59 AM Arabian Centres to issue dollar-dominated sukuk
Riyadh – Mubasher: Arabian Centres Company revealed its intention to issue dollar-dominated sharia-compliant sukuk. The number and value of any Sukuk to be offered will be determined based on market conditions and the Company’s financial and …
Companies Investments
Saifi discusses findings of 2019 Islamic Banking Index's edition
6 November 01:48 PM Islamic banking index rises to best levels in 5 yrs
Dubai - Mubasher: The 2019 edition of the Islamic Banking Index by Emirates Islamic indicated significant progress in the Islamic banking sector across parameters, with Islamic banking penetration skyrocketing to its highest level since launching …
Sukuk and Islamic Finance
Photo Archive
5 November 02:05 PM KPC obtains KWD 350m financing from local banks
Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …
Banking and Finance
Arabian Centres tends to have more flexible and unsecured public markets financing
28 October 01:22 PM Arabian Centres approves sukuk issuance
Riyadh – Mubasher: The extraordinary general assembly of Arabian Centres Company has approved the issuance of sharia-compliant sukuk. The sukuk, which may be issued in any currency whether domestically and/or internationally, comes along with the …
Macroeconomics
Total sukuk listed in Dubai hit $63.7bn
23 October 01:03 PM Nasdaq Dubai welcomes $750m sukuk listed by Sharjah
UAE – Mubasher: Nasdaq Dubai has welcomed the listing of $750 million sukuk by the UAE’s Emirate of Sharjah, according to a statement released on Wednesday. Following the recent listing, the total value of all of Sharjah’s Nasdaq Dubai-listed …
Macroeconomics
The new sukuk is due in 2029
22 October 06:14 PM Saudi Arabia hires banks for $2.5bn sukuk issuance
Riyadh – Mubasher: Saudi Arabia has reportedly hired JPMorgan and Standard Chartered banks to manage a $2.5 billion sukuk issuance, according to Reuters. The new sukuk is due in 2029 and will be completed on Tuesday, the international news agency …
Banking and Finance
The issuance size was set at SAR 7.265 billion
22 October 01:02 PM Saudi Arabia closes October domestic sukuk issuance totalled SAR 7.27bn
Riyadh – Mubasher: Saudi Arabia’s Ministry of Finance (MoF) has closed the October issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The issuance size was set at SAR 7.265 billion, according to the ministry’s statement on …
Macroeconomics
Majid Al Futtaim hires banks for dollar green sukuk issue
22 October 10:37 AM Majid Al Futtaim appoints banks for 10-year dollar green sukuk
UAE – Mubasher: The UAE-based holding company Majid Al Futtaim has mandated a group of banks to arrange a potential issue of US dollar-denominated green sukuk, Reuters reported, citing a document by one of the banks leading the deal. The Emirati …
Sukuk and Islamic Finance
Algorand’s ecosystem is now open to Islamic institutions using the platform
21 October 04:10 PM Algorand’s blockchain platform certified for sharia financing
Mubasher: The Algorand Foundation announced on Monday the certification of its blockchain platform in compliance with sharia financing, according to the organisation’s press release. Algorand enlisted Bahrain’s Shariyah Review Bureau (SRB), …
The sukuk has a coupon rate of 3.875%
16 October 09:39 AM Aldar’s unit raises $500m in sukuk placement
Abu Dhabi - Mubasher: Aldar Investment Properties, a wholly-owned subsidiary of Aldar Properties, announced it has raised a nominal amount of $500 million by placing a fixed rate US dollar-denominated sukuk with a tenor of 10 years. The …
Real estate
The approval means that the legal requirements have been met
14 October 09:51 AM CMA approves public offering of Al Mubarak Saudi Sovereign Sukuk Fund
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved the public offering by the Arab National Investment Company of Al Mubarak Saudi Sovereign Sukuk Fund. The approval of the fund should never be considered as a recommendation …
Sukuk and Islamic Finance
The issuance received significant interest from international market participants
10 October 11:12 AM Dar Alarkan completes issuing US fixed-rate RegS Senior unsecured Sukuk
Riyadh – Mubasher: Dar Alarkan Real Estate Development Company has completed issuing US fixed-rate RegS Senior Unsecured Sukuk. The company has successfully closed the sixth tranche Sukuk issuance under its dollar-denominated Islamic Sukuk …
Companies Investments
The offer is set to be priced on 15 October 2019
9 October 03:35 PM Aldar’s arm to start roadshow for USD sukuk issue
Abu Dhabi - Mubasher: Abu Dhabi-based Aldar Properties on Wednesday announced that its wholly-owned subsidiary Aldar Investment Properties LLC will start a series of fixed income investor meetings in Europe, Asia, and the Middle East as of 10 …
Corporate Actions
This is the second sukuk listing by Warba Bank of Nasdaq Dubai
9 October 01:27 PM Kuwait’s Warba Bank lists $500m Sukuk on Nasdaq Dubai
Mubasher: Nasdaq Dubai has welcomed the listing of Warba Bank, one of Kuwait’s leading banks, with the bank’s chief executive Shaheen Al-Ghanem celebrating the listing by ringing the market-opening bell. The bank aims at supporting its expansion …
Banking and Finance
Kuwait Business Town’s profits increased by 62.3% in Q2-19
8 October 04:08 PM Kuwait Business Town inks KWD 16.5m Islamic loan deal
Mubasher: Kuwait Business Town Real Estate signed a seven-year Islamic credit facilities contract with a local bank at a value not more than KWD 16.5 million. The facilities will be used in the settlement and repayment of KWD 5.6 million worth of …
Companies Investments
Aldar plans to sell sukuk with a 10-year maturity and a benchmark size of not less than $500 million
8 October 03:59 PM Aldar Properties’ arm appoints banks for US dollar sukuk issue
Abu Dhabi – Mubasher: Aldar Investment Properties, a wholly-owned subsidiary of the leading Abu Dhabi-based developer Aldar Properties, has appointed a group of banks to arrange investor meetings ahead of a planned US dollar-denominated sukuk or …
Bonds